American Selling Price

American Selling Price

Summary of American Selling Price

A method formerly employed in the United States to establish the value for duty of a limited number of imported products. Under the ASP scheme, an imported product's value for duty was based upon the selling price of like products manufactured in the United States, irrespective of the price the importer actually paid. The ASP mechanism was criticized by both U.S. importers and foreign suppliers, and it was rescinded for imports after July 1, 1980, by the Trade Agreements Act of 1979.

The ASP system is not authorized as an alternative method of valuation where the transaction value, constructive value, or deductive value cannot be determined or would be inappropriate. ASP was applied only in those instances where mandated by statute or presidential proclamation under authoriy of Section 336 of the Tariff Act of 1930. The following classes of merchandise were appraised under ASP: 1. Benzoid chemicals and products provided for in Schedule 4, Part 1, Tariff Schedules of the United States, Annotated (TSUSA); 2. Clams in airtight containers provided for in Item 114.04, TSUSA; 3. Footwear products specified in Item 700.60, TSUSA; 4. Knit wool gloves and mittens valued at not over $1.75 per dozen pairs, as provided for in Item 704.55, TSUSA.

See CUSTOMS VALUATION CODE.

(Main Author: William J. Miller)


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