Title 19, Customs DutiesRelease 119-102
§240 Value at Date of Shipment
Title 19 › CHAPTER 3 — THE TARIFF AND RELATED PROVISIONS › SUBTITLE IV — CUSTOMS ADMINISTRATION › part 1 — definitions › § 240
Summary
When a duty must be based on the import’s market price in the main markets of the exporting country or at its export port, the duty must be figured using the price on the day the goods were actually shipped. That applies only if a bill of lading showing the shipment date is presented and certified by the U.S. consul or an authorized deputy.
Full Legal Text
Title 19, §240
Customs Duties, Source: USLM XML via OLRC
When the duty upon any imports shall be subject to be levied upon the true market value of such imports in the principal markets of the country from whence the importation has been made, or at the port of exportation, the duty shall be estimated and collected upon the value on the day of actual shipment, whenever a bill of lading shall be presented showing the date of shipment, and which shall be certified by a certificate of the United States consul or legally authorized deputy.
Legislative History
Notes & Related Subsidiaries
Editorial Notes
Codification R.S. § 2904 derived from act Mar. 2, 1861, ch. 68, § 28, 12 Stat. 197.
Reference
Citations & Metadata
Citation
19 U.S.C. § 240
Title 19, Customs Duties
Last Updated
Aug 21, 2026
Release point: 119-102