Customs and Trade Law Weekly Snapshot GalleryCustoms and Trade Law Weekly Snapshot
Counterfeits, Import, U.S. Customs and Border Protection (CBP), U.S. Department of Commerce (DOC), U.S. Food and Drug Administration (FDA), U.S. Office of Foreign Assets Control (OFAC), U.S. Office of the United States Trade Representative (USTR), Uncategorized
- Customs and Trade Law Weekly Snapshot Gallery
Customs and Trade Law Weekly Snapshot
AD/CVD, Counterfeits, HTSUS, Mexico, U.S. Customs and Border Protection (CBP), U.S. Department of Agriculture (USDA), U.S. Department of Commerce (DOC), U.S. Food and Drug Administration (FDA), U.S. International Trade Commission (USITC), U.S. Office of Foreign Assets Control (OFAC), Uncategorized
Customs Undervaluation- It’s a Crime
Customs Valuation is a procedure to determine the customs value of imported goods. The customs value is essential to calculate the total duty to be paid on an imported good. As part of its agreement with the World Trade Organization (“WTO”), the U.S. is part of an internationally standardized system of valuing imports. This standardized system allows for CBP to protect revenue, ensure reasonable care from importers, and accurately calculate Census trade statistics. Accordingly, it is critical to declare the value of importations accurately and compliantly.
The U.S. Customs and Border Protection (CBP) valuation methodology (as well as a summary of relevant Customs rulings) are described in detail in the Valuation Encyclopedia (i.e., the best resource on valuation inquiries). CBP permits merchandise to be valued according to one of the six valuation methods listed below. The methods are applied sequentially from first to last until an applicable value is determined. If the first method does not apply, the importer must then evaluate the second, and so on, until an appropriate method applies. The only exception to this sequential evaluation requirement is when evaluating between deductive value and computed value – an importer may choose to use the computed value before the deductive value.
Methods of Valuation:
- The transaction value of imported merchandise (the majority of imports use transaction value – i.e., the price paid or payable plus assists (see below))
- The transaction value of identical merchandise
- The transaction value of similar merchandise
- Deductive value
- Computed […]
U.S. Customs – Your Personal Policeman at the Border
Introduction
Many companies mistakenly believe that registering a trademark or copyright with the U.S. Government provides sufficient protection and remedies. However, there is an additional step that can significantly enhance protection—recording trademarks or copyrights with U.S. Customs and Border Protection (U.S. Customs).
This blog explores the distinct goals of these processes and the advantages of recording intellectual property with the U.S. Customs.
I. Registering with USPTO and Recording with U.S. Customs: Different Goals
- Registering with the U.S. Patent and Trademark Office (USPTO) or U.S. Copyright Office gives public notice of ownership.
- Recording with U.S. Customs aims to prevent unauthorized importation of merchandise bearing the registered intellectual property.
- U.S. Customs serves as a critical partner in halting counterfeit and infringing products from entering or leaving the United States.
II. Benefits of Recording Trademarks or Copyrights with U.S. Customs
Seizure and Monitoring:
- U.S. Customs monitors and seizes infringing merchandise at ports of entry, alleviating the burden on trademark or copyright holders.
- This proactive approach eliminates the need to individually locate and prosecute every unauthorized importer, distributor, or retailer, safeguarding intellectual […]
2021: A Year in Review
From all of us at Diaz Trade Law, we are incredibly thankful and grateful for your support this year. Despite this ongoing pandemic, Diaz Trade Law still managed to save our clients MILLIONS of dollars in 2021. It is with great joy that we finish off 2021 filled with numerous achievements and accomplishments were humbled to share with you. We look forward to assisting you in what we envision will be a better and brighter 2022!