Valuation of merchandise imported from the People's Republic of China

Subpart A of part I of title IV of the Tariff Act of 1930 (19 U.S.C. 1401 et seq.) is amended by adding at the end the following: 403. Valuation of merchandise imported from the People's Republic of China (a) In general Notwithstanding any other provision of law, merchandise imported from the People's Republic of China shall be appraised on the basis of the United States value of the merchandise. (b) Verification of United States value (1) Submission by importers An importer of merchandise described in subsection (a) shall submit to U.S. Customs and Border Protection, upon entry of the merchandise, a statement of the United States value of the merchandise. (2) Verification by U.S. Customs and Border Protection U.S. Customs and Border Protection shall— (A) verify the information with respect to the United States value of merchandise submitted by an importer under paragraph (1); and (B) submit to the United States International Trade Commission— (i) a determination of whether or not the value submitted by the importer is accurate; and (ii) if that value is not accurate, a revised value for the merchandise. (c) United States value defined In this section, the term United States value, with respect to imported merchandise, means the price at which the imported merchandise or similar imported merchandise is freely offered for sale, packed ready for delivery, in the principal market of the United States to all purchasers, at the time of importation of the imported merchandise..