Trade Policy
Trade policy is how a country governs the flow of goods and services across its borders, using tariffs, quotas, trade agreements, export controls, and sanctions. Congress holds the constitutional power over trade and has delegated some of it to the president. The Commerce Department, the Office of the United States Trade Representative, Customs and Border Protection, and the courts all take part.
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All Articles on Trade Policy
Anti-Dumping and Countervailing Duties: America’s Trade Defenses
When foreign companies sell products in America at unfairly low prices, the U.S. government has weapons to fight back. Anti-dumping (AD) and countervailing duties…
What Are Tariffs and How Do They Work?
A tariff is a tax that governments place on goods coming into their country. You might also hear them called duties or customs duties—trade…
Free Trade Agreements: Pros and Cons for America
Free trade agreements shape how nations buy and sell from each other. These legally binding contracts between countries establish rules for conducting business across…
The United States-Mexico-Canada Agreement: A Guide
On July 1, 2020, the United States-Mexico-Canada Agreement officially replaced the 26-year-old North American Free Trade Agreement. This landmark pact governs a trade relationship…
How US Trade Deals Shape the Global Economy
When an American company ships products overseas or a foreign firm sells goods in the United States, they're operating within a system of rules.…
America’s Top 10 Trading Partners
In 2023, the United States shipped $3.053 trillion worth of goods and services around the world. This massive flow of trade accounts for 11%…
Inside the International Trade Administration
When American businesses venture into foreign markets, they don't go alone. Behind the scenes, a federal agency with 1,500 employees and a $625 million…
Navigating Global Trade: Understanding Most Favored Nation Status vs. Preferential Trade Status
International trade is a complex web of agreements and rules that profoundly impacts our daily lives, from the price of goods in local stores…
Tariffs and Trade Agreements: A Guide
The United States engages with the global economy through a variety of policy tools. Tariffs, which are essentially taxes on imported goods, and trade…
Challenges Facing the U.S. Department of Commerce
The 21st century brought new challenges, including a weakening industrial base, rising inequality, and the increasing impacts of climate change.