Tag: U.S.

Imagine paying tariffs based on a marked-up price that includes a middleman’s fees, rather than the true purchase cost. Since 1992, the First Sale Rule has helped importers avoid exactly that, allowing them to base dutiable value on the original transaction price rather than the final inflated one. But proposed legislation, the Last Sale Valuation Act, could bring that relief to an end.

While the U.S. economy seems to have avoided a recession, the forecast for 2024 remains mixed. It is no secret that inflation, labor shortages and geopolitical tensions all contribute to current economic conditions. Despite these factors, real GDP growth is expected to bounce between expansion and contraction for much of this year—showing the U.S. has reached a soft landing.