Bill > S3841

This bill, titled the "Last Sale Valuation Act of 2026," proposes to amend the Tariff Act of 1930 to change how the value of imported goods is determined for customs purposes. Specifically, it clarifies the definition of "transaction value," which is the price paid or payable for goods. For transactions involving a single sale, the value will continue to be the price paid by the buyer in the United States to the seller in another country. However, for transactions involving a series of sales, the bill mandates that the customs value will be based on the price paid in the *last sale* that brings the merchandise into the United States. This change aims to provide a clearer and more consistent method for valuing imported goods. Additionally, the bill strengthens the authority of U.S. Customs and Border Protection by explicitly including access to books and records as part of any adjustments made during the valuation process.

Budget and Finance

https://www.congress.gov/bill/119th-congress/senate-bill/3841/all-info