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U.S. Tariff Policy: Overview (CRS Report for Congress)

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Release Date Revised Oct. 3, 2024
Report Number IF11030
Report Type In Focus
Authors Christopher A. Casey
Source Agency Congressional Research Service
Older Revisions
  • Premium   Revised Feb. 22, 2024 (3 pages, $24.95) add
  • Premium   Revised Feb. 28, 2023 (2 pages, $24.95) add
  • Premium   Revised Jan. 6, 2022 (3 pages, $24.95) add
  • Premium   Revised Jan. 11, 2021 (116 pages, $24.95) add
  • Premium   Revised Nov. 28, 2018 (2 pages, $24.95) add
  • Premium   Nov. 8, 2018 (2 pages, $24.95) add
Summary:

A tariff is a customs duty levied on imported and exported goods and services. Historically, countries used tariffs as a primary means of collecting revenue. Today, other taxes account for most government revenue in developed countries. Tariffs are now typically used to protect domestic industries or as leverage in trade negotiations and disputes. The U.S. Constitution empowers Congress to set tariffs, a power that Congress has partially delegated to the President. The United States is also a member of the World Trade Organization (WTO) and a party to a number of trade agreements, which include specific tariff-related commitments. Congress and the President thus create U.S. tariff policy within the context of a rules-based global trading system.
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