Trade-based tax evasion and money laundering cost the US government more than US$640 billion in taxable income during 2021 according to a new report commissioned by Sēk Strategies, a Washington-based consultancy firm focused on transparency, accountability, human rights and the environment.

The report is based on in-depth data analysis of customs data that looked at every US trade transaction contained in the US department of commerce merchandise trade database and detected every abnormally priced import and export transaction.

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