Exporters of Steel and Aluminum Look to Foreign Trade Zones

New tariffs on steel (25%) and aluminum (10%) are forcing U.S. manufacturers, importers, and exporters to find cost cutting measures. Paying duties and taxes on steel and aluminum out of convenience is no longer a viable option.

port2018Enter Foreign Trade Zones, where CBP duties and federal excise tax are unpaid until the merchandise enters the U.S. for consumption. If the merchandise is exported from the U.S., then those duties and excise tax remain unpaid. The merchandise is in-transit during its stay in the FTZ.

In a transit and export hub such as Miami, FTZs have become increasingly popular over the last half decade since the Alternative Site Framework (ASF) guidelines were adjusted by the Foreign Trade Zones Board.

WTDC is both an FTZ Operator and FTZ Consultant. They specialize in FTZ Application and Activation through an operations-based approach, providing continual support and best practices. WTDC has assisted in the FTZ Application and Activation process for 20 locally based FTZs.

Genera USA, a FTZ Consulting client of WTDC, is establishing a FTZ in Doral, FL, under the ASF guidelines for PortMiami’s FTZ 281. The company provides electrical engineering solutions for Latin America and the Caribbean.

In its Foreign Trade Zone, Genera will be launching Blue Power Generators, a new line of industrial generator sets powered by Cummins and Perkins diesel engines. For additional information on Genera & Blue Power Generators please click the links below:

www.generausa.com www.bluepowergenerators.com