The concept behind Foreign-Trade Zones (FTZs) is not hard to grasp — they act as secured places for receiving cargo into the U.S. without incurring tariffs, yet. Then, there are multiple ways those tariffs can be reduced. And yet, many companies are failing to make the most of FTZs to reduce costs, because they’re intimidated by the legal and organizational hurdles.
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With businesses looking to expand near-shoring and on-shoring capabilities, many are increasingly taking advantage of the ability of a Foreign-Trade Zone (FTZ) to deliver significant benefits.
With an increasingly challenging trade environment, where unexpected customs duties can hit your supply chain hard, it’s becoming more important to embrace FTAs (Free Trade Agreements), which can open new markets and make significant cost savings.
