Ryan Petersen

I just bought it in the U.S.

Guarantee you, like, you are reliable for that.

Like, as a warning, look at the camera.

CBP DOJ has announced that their number two priority in white collar crime division of the Department of Justice is customs fraud.

Healthcare fraud is number one and then customs fraud number two.

Yeah, well, the good strategy is let's not talk about the illegal ones anymore.

I mean, but be careful.

Make sure you're getting good advice is have that database.

Know all the subcomponents.

There's a few things like valuation.

You can, there's a thing called first sale.

I won't bore you all with the technicalities of it, but there's, it's called first sale, which basically says that you pay the value of the goods based on the first time it was sold, not the price that you paid at import.

So there's legal ways to do that.

If you bought it, like there was a middleman or an agent that bought it in China and marked it up to you, you can actually import the goods at the price they paid, not the price you paid.

Yeah.

You can deduct the portion, if you file it all correctly, and don't quote me on this because you want to get good legal advice, including from Flexport's team, but you can deduct the portion that's U.S.

made.

But you don't just get to automatically do that.

You have to, like, file all the right paperwork and stuff.

And then, importantly, if you import something, you pay duties, and then you later export a product with the same classification, you're owed a refund on that first pass.