1、 https:/crsreports.congress.gov Updated January 6, 2022U.S. Tariff Policy: OverviewIntroduction 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
2、 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
3、 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. Rules-Based Global Trading System The rules-base
4、d global trading system was established following World War II. It began as the General Agreement on Tariffs and Trade (GATT), which was later integrated into a larger set of agreements establishing the WTO. This system has aimed to reduce trade barriers and prevent trade wars by establishing rules
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