What the Secretary of Commerce does
Promotes American business, trade, and economic growth at home and abroad.
Common misconceptions(2)
- Sets tariffs and trade dealsActually: Tariffs require the U.S. Trade Representative and the President. Commerce investigates unfair trade, but USTR negotiates the deals.
- Regulates Wall StreetActually: Stocks and financial markets are regulated by the SEC and the Treasury. Commerce focuses on businesses that make and sell goods.