USICT and its intervention in the US product markets
Introduction
United States international trade commission is a body that has duties of investigating trade matters. This agency investigates the consequences of financed imports on domestic manufacturing industries. The USITC is responsible for adjudicating cases concerning imports that purportedly infringe on rational property privileges. This organization also facilitates a worldwide trading system that is based on rules. This commission also acts as a federal station where all information on trade is gathered and an analysis done. The information and analysis are then forwarded to the president, the United States trade representatives’ office, and the congress to smooth the progress of the development of a sound and well informed trade policy in the U.S. the organization provides most of the data to the public to enhance public understanding on the issues of international trade.
The organization has various missions to accomplish and they are as follows; the administration of the trade laws in U.S within its jurisdiction in a fair and objective way. In addition, it provides most data and analyzed information on trade and the tariffs and competition in the market to the president and the United States trade representative’s office. Other duties include the maintenance of the harmonized tariff schedule. The USITC has external customers that it serves in five major operations including investigations on import injury, analysis on economics and industry and information services on trade and tariffs.
United States international trade commission differs with world trade organizations in some ways. Unlike USTIC that deals with United States trade affairs, WTO deals with the trade affairs of developing countries worldwide. United States trade international commission is a body that gathers information and presents it to the president and the trade representative’s office while the world trade organization gathers information that will aid in its transactions with the developing countries. WTO was made by its founders for the liberation of the international capital on trade. In addition, the world trade helps the developing countries increase and maximize their trade opportunities and gains by providing a field for formal negotiations on trade agreements. USITC is an independent body that is concerned with the imports of the industries in United States while world trade organization is concerned with the issues raised by the member countries.
WTO is headed by a director general who is appointed by the member countries. USITC is headed by six commissioners who are nominated by the president and inveterate by the senate of the United States. WTO has a hundred and fifty three member countries while USITC focuses on the U.S. There are some international trade affairs that harm the producers in the U.S. the United States international trade commission has policies that try to curb this habit (Peg O’Laughlin).
Firstly, there has been the establishment of various tariff rates to regulate trade. Secondly, USITC through the customs and border protection provides protection to the American producers by publishing harmonized schedules for tariffs for all goods imported in to the country. Also, this customs border protection states legal bindings and rules on the classification of imports and their destinations. There is a global nomenclature system that regulates the kind of goods that are imported. Thirdly, this commission monitors and keeps records and statistics electronically on the imports (Peg O’Laughlin).
. With the presence of this system, it is easier to capture ill intentioned humans. USITC also ensures the supervision of the United States remedy laws within its jurisdiction by involving fair methods. By the maintenance of the harmonized tariff schedule, the producers are protected under the umbrella of this schedule.
The determinations of the USITC with the context of the international trade theory are to ensure the providence of accurate and practical data to help the United States citizens in the wise selection of markets. It also ensures that the American citizens gain access to the international markets as it is a requirement in the trade agreements in the U.S.
The American producers are protected from unjust competitions from discarded and financially supported imports. Exchange rates between countries states how much one country’s currency is worth over another. The exchange rates of a country are determined by the trade agencies and the policies put in place by regulating inflation of goods. The United States gets help from various organizations such as the commercial service which promotes the exercise of exporting by small scale producers.
The USITC has been given powers to make certain decisions that will benefit the American people. For instance, in case there is a possibility that goods are being sold at a cheap value that will injure the economy of the country, it has the authority to make decisions such as taking of affirmative action against the offender (Peg O’Laughlin).
. Moreover, the commission gives advice to the president according to the decisions that they make. These decisions often have implications such as the smooth importing of goods for the good of the American people. Also there is less injury on the economy since offenders are investigated by this commission and prosecuted.
Conclusion
There has been modification of the country’s economy as a result of the positive effect on the domestic industry. Trade barriers have also reduced as a result of formal negotiations with foreign nations by the USIT commission. Additionally, the level of trade in the United States is of high standards as compared to any other. This is because the kinds of decisions they make are those from well trained officials with high integrity. When a commission is in place, the country’s economy is saved from any possible injuries. I must say is privileged to have a commission in place that ensures the best for the entire American producers. An economy that is comfortable to the country often bears first-class producers and there is the stimulation for change in favor of a better placed economy.
Reference
Peg O’Laughlin, exports by small and medium-sized U.S. enterprises to be examined by U.S. International trade commission December 7, 2009 News Release 09-101, Inv. No.332- 510. Retrieved on 10th December from
http://www.usitc.gov/press_room/news_release/2009/er1201gg1.htm
Peg O’Laughlin .Economic integration, export competitiveness, and inbound investment for selected industries in Southeast Asia are focus of new USITC study December 7, 2009 News Release 09-101, Inv. No.332-510. Retrieved on 10th December from
http://www.usitc.gov/press_room/news_release/2009/er1201gg1.htm
