What version of Premiere Elements, what computer operating system?
The iTunes music needs to be taken into iTunes beforehand and converted to the WAV version. Then import the WAV version into the Premiere Elements project? See the following for the how to
If you need any help with the how to, please ask, and I will supply any supplemental details that you need. The matter of iTunes music and Premiere Elements is a classical happening.
I have been completely unable to import ANY audio files.
Please clarify....do you mean that you cannot import any of the iTunes music files or you cannot import audio from camera files as well as from iTunes? If that is the case, what are the properties of these files from the camera?