Used-Car Dealers Protest at Northern Border

Earlier today, used-car dealers temporarily blocked the northern border crossing, claiming that a proposed regulation will drive them out of business. The regulation, which isn’t new, would value used cars from the U.S. at the ‘transaction value’ which is the actual price paid for the vehicles when they are sold for export to the importing country. This price includes any adjustments for certain elements, such as discounts or additional charges, and is usually shown on the invoice. This, as opposed to the new residual or book value, which dealers contend would make the cars much more expensive. The traders believe that this rule is meant to protect new car dealers. We’ll have more from the Customs Department in our subsequent newscast.