The Customs and Border Protection Department proposesto change the definition of transaction value from the present interpretationof the first cost paid from the O.E.M. to whatever the last cost was paidbefore the goods were shipped to the importer in the U.S.

Under the current interpretation of transaction value,an importer who buys sport widgets through an agent pays duty on the value thatthe agent pays for the products from the factory that actually makes them, eventhough the agent may take possession to the widgets before they are actuallytransferred to the importer. Under the new system, the duty would be based onthe transaction ... Log in to view full article.