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Drinker Biddle & Reath LLP | USA | 2 Jan 2009

ITC initiates investigation of use of the First Sale Rule

On Dec. 29, 2008, the International Trade Commission (ITC) issued an institution of investigation (Investigation No. 332-505) in response to Section 15422(c)(1) of the Food, Conservation, and Energy Act of 2008 (Farm Bill), which requires the ITC to submit a report to the House Committee on Ways and Means and the Senate Committee on Finance that contains certain customs transaction valuation information with respect to the First Sale Rule.

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