As national security policy increasingly incorporates trade controls to advance foreign policy and strategic economic goals, companies face growing exposure to sanctions, export restrictions and customs enforcement. The picture is further complicated by new and continually changing tariffs and taxes on imports that can alter supply chain economics and commercial relationships. As a result, many compliance professionals may find themselves needing to brush up on – or learn for the first time – the fundamentals of trade controls. To assist, the Anti-Corruption Report has created this multi-part primer to ensure all compliance experts have their basics covered. This first part clarifies the aspects of and differences between common trade controls, including sanctions, export controls, customs, tariffs and other measures. Future articles will dive into who is at risk, the changing enforcement environment and how companies should build compliance frameworks to manage trade control risks. See “In-House Perspectives on Compliance’s Role in Managing New and Emerging Risks” (May 22, 2024).