American Selling Price in the United States

American Selling Price in the International Business Landscape

Definition of American Selling Price in the context of U.S. international business and public trade policy: A method of calculating US import duties, under which those for certain categories of products—benzenoid chemicals, rubber footwear, canned clams, and wool-knit gloves-were computed by multiplying the tariff rate not by the price of the imported product, as is standard practice, but instead by the (usually much higher) price of the US product with which the import competed. This typically resulted in a much higher effective tariff. The United States agreed in the MTN, or Tokyo Round, to phase out ASP, effective in 1981.