'First Sale Rule' determining transaction value of imported goods, ITC

30 Dec '09

4 min read

• The Commission estimated that $1.411 trillion of U.S. imports used the transaction value method one of several methods of valuing imports from September 1, 2008, to August 31, 2009. U.S. Customs and Border Protection estimated that this method is used to value approximately 86.4 percent of total U.S. imports. The transaction value method is based on the price actually paid or payable by a buyer for a good, plus adjustments for certain fees such as commissions, packing, royalties, and licensing fees. "First sale" use is only allowed when the transaction value method is the method of customs valuation appropriate to an importation.

USITC general factfinding investigations, such as this one, cover matters related to tariffs or trade and are generally conducted at the request of the U.S. Trade Representative, the House Committee on Ways and Means, or the Senate Committee on Finance. The resulting reports convey the Commission's objective findings and independent analyses on the subjects investigated. The Commission makes no recommendations on policy or other matters in its general factfinding reports. Upon completion of each investigation, the ITC submits its findings and analyses to the requester. General factfinding investigation reports are subsequently released to the public unless they are classified by the requester for national security reasons.

United States International Trade Commission

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