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What Are the Benefits of Using a Foreign Trade Zone for Business?

Did you know that there are sections of the US where foreign goods are considered outside the US for the purposes of collecting duties and taxes? It’s true, and the role of Foreign Trade Zones in global supply chains is significant and a valuable addition to the international trade toolbox. These zones lend themselves to several creative uses that can provide options and cost savings for the businesses that put them to work. If you are intrigued by this idea and curious as to whether or not these foreign trade zones (FTZ) can be used effectively by your business, then you are invited to read on.

Tariff Relief and Trade Agreements - How To Prepare for Change

Whether in the US, Canada, or anywhere in the world, when an administration changes, change often comes with it. That change can often manifest in the form of shifted international trade relations as newly elected officials pursue different priorities and push forward new ideas on how their nation fits into the world marketplace. For this reason, new tariffs, regulations, agreements, and shifting trade negotiations can be high on the political agenda.

Forced Labor, CBP, and the Solar Panel Surprise

Let’s imagine a scenario. You are a company that imports garments from a manufacturer in India, and right now there is something of a boom for your particular kind of garment. Someone famous wore one at a televised event, and now whatever it is you are making is the talk of the town. So, you ramp up production and begin importing them on a large scale from a factory that makes them in India.

What is a Denied Party Screening?

If there is a recurring theme in international trade, it is almost certainly complexity. There are countless moving parts, niche rules, special considerations, and even strange corner cases that are all necessary for staying compliant while trading internationally. This often-moving target of compliance is what makes an extra pair of eyes so important for keeping your import business on the straight and narrow.