All merchandise imported into the United States is subject to appraisement. The Trade Agreements Act of 1979 (the Act), codified at 19 U.S.C. 1401a, et. seq., sets forth the rules for appraisement of imported merchandise. The Act sets forth six different methods of appraisement, and their order of preference. Under the Act, the preferred method of appraisement is transaction value. Generally, the appraised value of all merchandise imported into the United States is the transaction value of the goods. In the event the merchandise cannot be appraised on the basis of transaction value, the secondary bases are considered in the following order:
- Transaction Value of Identical Merchandise
- Transaction Value of Similar Merchandise
- Deductive Value
- Computed Value
- Values if Other Values Cannot be Determined
- The importer may request the reversal of Deductive Value and Computed Value at the time the entry summary is filed.