TeachMeFinance.com - explain International Trade Commission (ITC)
International Trade Commission (ITC) The term 'International Trade Commission (ITC) ' as it applies to the area of agriculture can be defined as ' An independent, quasi-judicial federal agency that provides objective trade expertise to both the legislative and executive branches of government and determines the impact of imports on U.S. industries. It makes recommendations concerning countervailing duty and antidumping petitions submitted by U.S. industries seeking relief from imports that benefit from unfair trade practices. The agency also updates and publishes the Harmonized Tariff Schedule of the United States. Established by Congress in 1916 as the U.S. Tariff Commission, the Trade Act of 1974 changed its name to the U.S. International Trade Commission'.
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