Precisely. The Commerce Clause was place there to keep the states from enacting tariffs and engaging in destructive trade wars.
"To regulate commerce among the several states"
"Regulate" meant to make regular, or keep in good working order.
An analogy can be made to the power company. The have the authority to do whatever is necessary to regulate the electricity in your home, meaning they keep the voltage and phasing within prescribed limits, and insure that the cabling and infrastructure are up to the loads being placed on it. It does not mean they can come into your home and dictate what appliances you may own, or when you can and cannot use them, or for what purpose.