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ARTICLE · 09 JULY 2026

Customs Valuation & Steel Imports

Millar Kreklewetz
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The US-Canada trade dispute has created a complex environment where proper customs valuation is critical for steel industry businesses. This report examines the fundamentals of customs valuation for steel importers, exploring transaction value requirements, related-party rules, and the impact of US tariffs on value for duty reporting.

CanadaInternational Law
Robert Kreklewetz
Robert Kreklewetz
David West
David West

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The US-Canada trade dispute created a trade environment that makes proper customs valuation a critical issue for businesses in the steel industry. In particular, getting the value for duty correct (and avoiding costly assessments by the CBSA and US CBP) is critically important when one considers that ordinary customs duties, surtaxes, special tariffs, and anti-dumping duties could potentially apply depending on the steel imports in question.

In this Steel & Aluminum Industry Report, we review the basics of customs valuation for steel importers.

Transaction Value of Steel Goods

Under s. 47(1) of the Customs Act, the ordinary method of appraising the value for duty of steel goods is Transaction Value. There are certain conditions that must be met in order to appraise goods under Transaction Value, and where not met, a subsidiary basis of appraisal must be used. The US also has similar rules with respect to Transaction Value under 19 USC §

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