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The USITC was established by the U.S. Congress on September 8, 1916, as the U.S. Tariff Commission. [5] In 1974, the name was changed to the U.S. International Trade Commission by section 171 of the Trade Act of 1974. [6] Statutory authority for the USITC's responsibilities is provided by the following legislation: Tariff Act of 1930
The Commission consisted of 59 businessmen whose brief was to construct a "Scientific Tariff" which would achieve tariff reform objectives. [1] The aims of the Commission were to examine and report on Chamberlain's proposals for tariff reform, and to work out what import duties should be recommended. [2] Members of the Commission included:
Title 19 of the United States Code outlines the role of customs and duties in the United States Code. [1] ... 19 U.S.C. ch. 2—The Tariff Commission (repealed/omitted)
The council was organized into eight committees: (1) Committee on agriculture and natural resources, (2) industry, (3) foreign trade and tariff, (4) domestic trade, (5) transportation and communication, (6) taxation, (7) labor and immigration, and (8) banking and finance.
In 1981, President Ronald Reagan requested that the U.S. International Trade Commission prepare a draft of the U.S. tariff schedules using HTS nomenclature. This conversion was issued in June 1983, and after lengthy review from interested parties, replaced the TSUS on August 23, 1988 with the enactment of the Omnibus Trade and Competitiveness Act .
From 1871 to 1913, "the average U.S. tariff on dutiable imports never fell below 38 percent [and] gross national product (GNP) grew 4.3 percent annually, twice the pace in free trade Britain and well above the U.S. average in the 20th century," notes Alfred Eckes Jr, chairman of the U.S. International Trade Commission under President Reagan.
Earnings analysis. Here's what Target reported for the third quarter, compared to Wall Street analyst estimates compiled by Bloomberg: Net sales: up 1.1% year over year to $25.7 billion, vs ...
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