[US] ITC Investigation Will Examine Use of First..

January 6, 2009

6 January 2009

[US] ITC Investigation Will Examine Use of First Sale Rule

The following was reported on in the 6 January 2009 edition of “WorldTrade Interactive”. The original document is available at: http://www.strtrade.com/wti/2009/january/06/itc_first_sale.pdf.

The [US] International Trade Commission has launched an investigation on the use of the First Sale Rule with respect to the customs valuation of imported goods.

ITC Report Due in 2010. The 2008 Farm Bill requires the ITC to submit to the House Ways and Means and Senate Finance committees a report that includes the following information.

• the aggregate number of importers declaring that the transaction value of the imported merchandise is determined on the basis of the First Sale Rule, including a description of the frequency of the use of that method

• the tariff classification of such merchandise on an aggregate basis, including an analysis by sector

• the aggregate transaction value of such merchandise, including an analysis by sector

• the aggregate transaction value of all merchandise imported into the U.S. during the specified one-year period

The ITC does not plan to hold a public hearing in the course of this investigation. However, interested parties are invited to submit written comments no later than April 30. The ITC anticipates that it will transmit its final report to Congress by Feb. 10, 2010.

CBP to Issue Monthly Reports. To assist the ITC in preparing its report, the Farm Bill requires U.S. Customs and Border Protection to provide monthly reports for the period Aug. 20, 2008, through Aug. 19, 2009, that include (a) the number of importers declaring that the transaction value of the imported merchandise is determined on the basis of the first or earlier sale, (b) the tariff classification of such merchandise and (c) the transaction value of such merchandise.


Topic(s): 
World Economy & Politics
Information Source: 
Canadian News Channel / International News Channel
Document Type: 
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