Valuation

Valuation is the process of determining the customs value of imported goods — the amount on which customs duties, taxes, and tariff-related recoveries are assessed. For example, if an importer buys 100 widgets at $10 each and pays $200 freight and $50 insurance, the customs value would typically be $1,250 (100×$10 + $200 + $50), subject to adjustments under the applicable valuation rules.