An importer places an order for beer steins in Germany on January 1, with a manufacturer, Gregor International GmbH (“Gregor”), who demands payment in Euros. The Euros are wire transferred to Gregor in Germany and received by Gregor on January 3. The steins are exported to the United States on January 4, by ship, and arrive at the CBP Port of Entry in New York on January 10. An entry summary is filed on January 17. Which date is used for conversion of the Euros into U.S. dollars for CBP purposes?
A. January 1
B. January 3
C. January 4
D. January 10
E. January 17
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The Answer is: C
Citation: 19 CFR 152.1(c) and 159.32
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