ABSTRACT
The power to regulate international trade, granted to Congress under the Constitution, has evolved into a complicated set of procedures involving all branches of government. In the 18th and 19th Centuries, setting tariffs was major activity of Congress. However, by the 20th Century, it was evident that Congress was moving away from any direct activities in the regulation of trade. In 1934, Congress delegated the power to raise and lower tariffs to the President. Then by the late 1940s and early 1950s, the United States Tariff Commission (the International Trade Commission since 1974), which had been created in 1916 as a fact finding agency, acquired greater authority from Congress in the decision-making process of trade regulation. The history and evolution of trade policy in the Unites States provides useful insights for understanding how trade is regulated today. With the creation of the General Agreement on Trade and Tariffs (GATT) in 1947, the Tariff Commission's authority to regulate trade was revived.
