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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'. Previous 5 Terms: International Grains Council (IGC) International Monetary Fund (IMF) International Nuclear Regulators Association (INRA) International Organization For Standardization International System of Units (SI) Next 5 Terms: International Wheat Agreement (IWA) Internist Interphase Interplanetary Magnetic Field Interpolate About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005-2011 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional medical, legal or financial advice. Information presented at TeachMeFinance.com is provided on an "AS-IS" basis. Please read the disclaimer for details.