This bill modifies how the U.S. government calculates the value of imported goods for customs and tariff purposes. Currently, customs officials determine import value based on the transaction price; this bill clarifies that when merchandise passes through multiple sales before entering the United States, the value should be based on the final sale price—the transaction between the last buyer and seller when the goods arrive in America. The legislation also expands the authority of U.S. Customs and Border Protection to access company books and records when reviewing valuation adjustments, strengthening enforcement capabilities. The bill affects importers, exporters, and international traders who bring goods into the United States through multiple transactions. No specific funding or implementation timeline is included in the legislation.
Take Action
Your position
Add a comment
to comment on this bill.
Annotate the text
Highlight any passage on the Summary or Full Text tab to attach a note. Annotations appear on the Annotations tab.