Last Sale Valuation Act of 2026

This bill amends the Tariff Act of 1930 to modify the methodology for determining the transaction value of imported merchandise for customs valuation purposes. It clarifies the definition of "sold for exportation to the United States," which is essential for calculating import duties. For goods involved in a single sale, the transaction value remains the price paid by the U.S. buyer to the foreign seller. However, for transactions involving a series of sales , the bill specifies that the transaction value will be the price paid by the buyer in the United States in the last sale that introduces the merchandise into the country. Additionally, the legislation strengthens the enforcement capabilities of U.S. Customs and Border Protection by explicitly granting them access to books and records when making adjustments to customs valuations, aiming for greater accuracy and transparency.