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October 2024, question 76
Valuation, Appraisement and Duty Assessment · Valuation
When determining the valuation of merchandise, which of the following best describes “similar merchandise”?
- Merchandise that incorporates or reflects any engineering, development, artwork, design work, or plan or sketch supplied at reduced cost by the buyer of the merchandise being appraised.
- Merchandise produced by the same industry or industry sector as the merchandise being appraised.
- Merchandise produced in the same country and by the same person as the merchandise being appraised.
- Merchandise identical in all respects to the merchandise being appraised.
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CBP's answer: C. C: Merchandise produced in the same country and by the same person as the merchandise being appraised.
Similar merchandise is produced in the same country and by the same person as the merchandise being appraised, like it in characteristics and component material, and commercially interchangeable with it (C). Same industry (B) is the definition of the same class or kind, and 'identical in all respects' (D) is identical merchandise.
“Similar merchandise” means merchandise produced in the same country and by the same person as the merchandise being appraised 19 CFR 152.102(i)
Search for: similar merchandise produced in the same country and by the same person
CBP's key cites: 19 CFR 152.102(i); 19 CFR 152.102(h); 19 CFR 152.102(d)
Question and key from CBP's October 2024 exam and answer key. The walk-through is ours; quotes are from the pinned editions in the reference viewer (HTSUS 2026 Basic, 19 CFR 2025 edition).