Foreign Trade Zones (FTZs) are valuable assets for many companies, including those that import large volumes of products at a time. In fact, the services they offer can provide much-needed savings on tariffs, duties, and more.
Keep reading to learn about how FTZs can benefit businesses that need large volumes of materials at a time.
When a company imports materials to create finished products, they must pay duties when these pieces enter the United States. This can be costly and add up quickly.
A Foreign Trade Zone is a space within the United States that is treated as if it’s outside of the country for customs purposes. Because it is still on United States soil, an FTZ can be a convenient solution for many types of businesses, including manufacturers.
Businesses can move large volumes of products to the FTZ, where they can then store the inventory. By doing this, companies can import items out of the FTZ as needed and pay duty only when they do. This improves cashflow on high dollar items and also freezes the duty prior to any increases that may occur.
IMPORT QUALITY PRODUCTS
We are proud to have over twenty years in the manufacturing industry, which means our FTZ Division is ready and willing to work with businesses to sub-assemble products.
Companies can ship materials to the FTZ, where our team can then assemble them into a component. Then, when this component is imported from the FTZ, the company only needs to pay tariffs on that one item instead of all of the pieces.
This method, along with our other tariff-reducing initiatives, can help save businesses up to 80% in tariff avoidance and reductions. In a world with fluctuating tariff policies and trade wars, we’re proud to provide a bastion of stability. Plus, we only make money based off of our clients’ savings, so we’re dedicated to your success.
Are you ready to get started saving? Reach out to our FTZ Division today. We can’t wait to help you save on tariffs and duties.