US Imports

US imports totaled approximately $3.3 trillion in goods in 2024, with China, Mexico, and Canada as the top three sources. Importers of record are legally responsible for the accuracy of entry documentation, the correct classification of goods, the proper declaration of customs value, and payment of applicable duties including trade remedy assessments. CBP has four years to liquidate an entry and assess additional duties if it determines the original entry was incorrect. Antidumping and countervailing duty orders add a layer of complexity: the rates are set by Commerce Department reviews conducted years after entry, and the final bill can significantly exceed the deposit paid at import. We cover importer of record obligations, classification and valuation requirements, and the liquidation process.