Trade Regulation: an overview
The terms commerce and trade are often used interchangeably, with commerce referring to large-scale business activity and trade describing commercial traffic within a state or a community. The U.S. Constitution, through the Commerce Clause, gives Congress exclusive power over trade activities between the states and with foreign countries. Trade within a state is regulated exclusively by the states themselves. As with any commercial activity, intrastate and interstate trade is often times indistinguishable.
Federal agencies that help in trade regulation include the Department of Commerce (DOC) and the International Trade Administration(ITA). The DOC is an agency of the executive branch that promotes international trade, economic growth, and technological advancement. The ITA is a branch of the DOC that works to improve the international trade position of the United States. For additional topics related to trade regulation please refer to Commercial Law.
