The main purpose of this legislation is to update how the value of imported goods is determined for customs purposes. Specifically, it aims to modify the definition of "transaction value" in the Tariff Act of 1930 to better reflect the actual prices paid for goods entering the United States. One of the key provisions of this legislation is the clarification of what constitutes a sale for exportation to the U.S. For transactions involving a single sale, the law states that the price used for customs valuation will be the actual price paid by the buyer in the U.S. to the foreign seller.