Veto just means "I forbid". It is perfectly fine to use it outside the context of the President denying his consent to legislation.

For example I could, and have, vetoed a resturant in a discussion of where to go for dinner.

In this case a decision of the International Trade Commission is presumptively valid unless the President, or his designee, forbids the ruling from going into effect -- or in other words, unless he vetoes it.