### Question
How is the term import cost defined?


### Answer
The term **import cost** is defined in *19 U.S.C. § 1332* as the following:

> the transaction value of the imported merchandise determined in accordance with section 1401a(b) of this title plus, when not included in the transaction value, all necessary expenses, exclusive of customs duties, of bringing such merchandise to the United States

#### Citation:
  - *19 U.S.C. § 1332*
  - Heading: **CHAPTER 3-THE TARIFF AND RELATED PROVISIONS > SUBTITLE II-SPECIAL PROVISIONS > Part II-United States International Trade Commission**

