CBP Publishes “What Every Member of the Trade Community Should Know About: Customs Value”

The US Customs & Border Protection website contains many valuable resources for importers, exporters, and the trade community.  The Willson US Transition Team receives many inquiries in any given week.  One of the common themes is the valuation of goods. US Customs has a document on their website titled, ““What Every Member of the Trade Community Should Know About: Customs Value.”

This brief handbook gives an overview on such topics as how to value your goods, what should be added to the value, and what should be deducted from the value.  This resource should be reviewed by the members of your logistics and accounting teams to be sure that your company is declaring the correct values for Customs purposes.