Firms, Trade Groups Seek Support For First-Sale Rule

Law360, New York (March 25, 2010, 12:02 PM EDT) -- A coalition of U.S. firms and trade groups is urging Congress not to turn its back on a rule that allows U.S. importers to value goods using the “first sale” in a series of transactions as the basis for calculating import duties.

U.S. importers need to know that the first-sale rule will remain a viable option for companies when they value their products well into the future, according to the letter sent to the House Ways and Means Committee and the Senate Finance Committee on Wednesday...
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