FTZ’ine November 2019
October 31, 2019
FTZ’ine January 2020
January 7, 2020
A Blockbuster Month Ahead For Foreign-Trade Zones?
Impeachment hearings once again crowded out any progress on trade policy last month. Your nation’s capital became enthralled by captivating testimony from members of the Trump administration on negotiations over the release of military aide to Ukraine. That leaves time running very short for passage of USMCA, but a green light from the House Speaker right before the Thanksgiving break could mean fast passage will take place this month.
Impeachment hearings also likely added to the long list of factors working against reaching a trade deal with China, which was supposed to be completed last month. That leaves the FTZ industry preparing for the possibility of new tariffs on List 4b merchandise on December 15th. The sides have described themselves as very close to completing negotiations before that deadline, but threats from the President of new tariffs on steel from Brazil and Argentina, made just yesterday, may be a sign that a deal with China remains elusive.
The latest polls from Britain indicate that Boris Johnson’s gamble on a general election in Britain will pay off. A widening majority of Conservatives in Parliament makes the prospect more likely that the newest Brexit deadline of January 31, 2020 will actually be met.
Passage of USMCA, closing a Phase One trade deal with China, or agreement on the terms of Brexit would make December a chart-busting month for trade!
The FTZine staff wishes all our readers a very Merry Christmas with friends and family, and health and prosperity in the New Year.
Top Story: Latest British Polls Bolster Brexit Chances
Tech Tip
Have you ever needed to update an entry after it was in CBP control? This is a bit tricky for self-filers, but if the entry has not been paid, it can be done!
Once an entry is in Customs control, only CBP can edit that transaction. But with their help, you can still make a correction before the entry is paid. Upon request, CBP can put the entry into ‘Rejected’ status and return it to Importer control. This will then make it possible to edit the entry and refile.
This is particularly useful if you are in a situation where a currency conversion, country of origin declaration, or value input error caused an entry to have a drastically inaccurate duty amount. If you haven’t made payment, it is worth asking for a rejection as long as you still have enough time to process the entry for payment before it will be late. Correcting an entry this way requires payment within 48 hours, regardless of the original payment deadline, so this method should only be used in unusual circumstances.
If, however, you don’t realize an update is needed until after payment has been made, a Post Summary Correction (PSC) is the way to make changes. If you are in that same situation having made an overpayment, that will mean waiting for liquidation or requesting accelerated liquidation for your refund to be issued.
Mexico Lobbies House Speaker in Support of USMCA
Any changes desired by the FTZ industry would need to be made fast if they are to be included in a bill passed in 2019.
Delay of ‘Phase One’ Deal Leaves Tough Tariff Planning For FTZs
Déjà vu? December brings another government shutdown deadline
FTZ Board Activity
- Black & Decker (U.S.), Inc. submitted an application for Production Authority for Lithium Ion Battery Assembly for Cordless Power Tools within FTZ 12 in McAllen, Texas. MORE
- Franks International, LLC submitted an application for subzone status for its facility within FTZ 124 in Gramercy, Louisiana. MORE
- The Lobster Trap Co. submitted an application for subzone status for its facility within FTZ 28 in New Bedford, Massachusetts. MORE
- Commerce Warehouse Group, LLC submitted an application for subzone status for its facility within FTZ 38 in Spartanburg County, South Carolina. MORE
- Patterson Pump Company received approval to operate its facility as subzone 26Q in Toccoa, Georgia. MORE
- Flextronics America, LLC submitted a Notification of Proposed Production Activity for Automated Data Processing Machines within FTZ 183 in Austin, Texas. MORE
- Volkswagen Group of America Chattanooga Operations, LLC submitted a Notification of Proposed Production Activity for Passenger Motor Vehicles within FTZ 134 in Chattanooga, Tennessee. MORE
- Puma Energy Caribe, LLC submitted an application for the expansion of Subzone 7F in Mayaguez, Puerto Rico. MORE
- ZF Chassis Systems Duncan, LLC received authorization of production activity for Automotive Suspension Systems within FTZ 38 in Spartanburg County, South Carolina. MORE
- ProAmpac Holdings, Inc. received authorization of production activity for Flexible Packaging Applications within FTZ 201 in Holyoke, Massachusetts. MORE
Impeachment hearings once again crowded out any progress on trade policy last month. Your nation’s capital became enthralled by captivating testimony from members of the Trump administration on negotiations over the release of military aide to Ukraine. That leaves time running very short for passage of USMCA, but a green light from the House Speaker right before the Thanksgiving break could mean fast passage will take place this month.
Impeachment hearings also likely added to the long list of factors working against reaching a trade deal with China, which was supposed to be completed last month. That leaves the FTZ industry preparing for the possibility of new tariffs on List 4b merchandise on December 15th. The sides have described themselves as very close to completing negotiations before that deadline, but threats from the President of new tariffs on steel from Brazil and Argentina, made just yesterday, may be a sign that a deal with China remains elusive.
The latest polls from Britain indicate that Boris Johnson’s gamble on a general election in Britain will pay off. A widening majority of Conservatives in Parliament makes the prospect more likely that the newest Brexit deadline of January 31, 2020 will actually be met.
Passage of USMCA, closing a Phase One trade deal with China, or agreement on the terms of Brexit would make December a chartbusting month for trade!
The FTZine staff wishes all our readers a very Merry Christmas with friends and family, and health and prosperity in the New Year.