What does ITAC mean in ADVISORY
Industry Trade Advisory Committees (ITACs) are committees set up by the U.S. Department of Commerce to provide advice to the Secretary of Commerce and the U.S. Trade Representative on issues related to international trade policy, negotiation, and implementation. ITACs provide representatives from various industries and sectors with a platform to present their views on key trade-related topics and help shape the U.S. government's trade policy agenda.
ITAC meaning in Advisory in Business
ITAC mostly used in an acronym Advisory in Category Business that means Industry Trade Advisory Committees
Shorthand: ITAC,
Full Form: Industry Trade Advisory Committees
For more information of "Industry Trade Advisory Committees", see the section below.
Essential Questions and Answers on Industry Trade Advisory Committees in "BUSINESS»ADVISORY"
What is an Industry Trade Advisory Committee?
An Industry Trade Advisory Committee (ITAC) is a committee established by the U.S. Department of Commerce that provides advice to the Secretary of Commerce and the U.S. Trade Representative on issues related to international trade policy, negotiation, and implementation.
How many ITACs are there?
There are currently 19 ITACs covering a wide range of sectors including agriculture, pharmaceuticals, textiles and apparel, services, aerospace, information technology and telecommunications, retail, finance, transportation equipment manufacturing, engineering-construction-operations services, motor vehicles & parts manufacturing, chemicals & allied products manufacturing and advanced energy manufacturing.
Who serves on an ITAC?
Each ITAC consists of representatives from various industry associations as well as individual companies that have direct experience in international trade negotiations or implementation activities.
How does an ITAC provide input?
An ITAC provides input through formal meetings with USTR officials where members present their views on various topics such as market access issues; rules of origin; IP protection; customs matters; dispute settlement procedures; health safety measures; environmental standards; labor rights; competition policies among other matters.
What type of actions can be taken following an ITAC meeting?
Following an ITAC meeting the USTR may take certain actions such as negotiating changes to existing agreements or pursuing new agreements with trading partners that reflect input provided by each respective ITAC.
Final Words:
The Industry Trade Advisory Committees (ITACs) provide an important platform for industry stakeholders to engage in dialogue with policymakers responsible for shaping U.S. trade policy agendas at both bilateral and multilateral levels in order to advance their commercial interests during international trade negotiations or implementation processes.
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