On Feb. 11, U.S. Sens. Bill Cassidy (R-LA) and Sheldon Whitehouse (D-RI) introduced the Last Sale Valuation Act (the Act), a bipartisan bill that would eliminate valuation of imports pursuant to “first sale,” which has been an accepted valuation methodology in the United States for decades.
Newly Introduced Congressional Legislation Seeks to End ‘First Sale’ Valuation, Potentially Increasing Duties for Importers
