Explanation:

Commercial policy is an umbrella term that describes the regulations and policies that dictate how companies and individuals in one country conduct commerce with companies and individuals in another country. Commercial policy is sometimes referred to as trade policy or international trade policy.

Commercial policy is one of the most fundamental purposes of a country's government. In the United States, the administration of commercial policy is a role that the federal government has assumed since the country’s founding; tariffs on imported goods were the main source of funding for the federal government from America’s beginning until the early twentieth century. 

Tariffs are taxes that are levied on the sale of foreign goods in a home country.1 Tariffs are just one element of commercial policy. Other policies that fall under the umbrella of commercial policy include import quotas, export constraints, and restrictions against foreign-owned companies operating domestically.