Foreign Trade Zone: A Potential Resource in the Midst of a Changing Trade Environment
Although the Foreign Trade Zone program has been around since the Great Depression, many companies are still unaware of it and how it may benefit their business. However, with the evolving state of tariffs on imported goods, interest in this resource is picking up — and for good reason. For local manufacturing companies who import a variety of components to assemble into a finished or partially-finished good, the potential impact of new tariffs can be daunting to analyze and ultimately, be significant on final costs. For this reason, it’s worth exploring the Foreign Trade Zone program and understanding if it’s a good fit for your company and operation. The graphic below provides an overview. Our office is here to help connect you to additional resources.