Foreign Trade Zones- Understanding and Making Good Use of Them
Thursday, April 22, 2021
10:00 AM PDT | 01:00 PM EDT
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Product Id : 503633
Live: One Dial-in One Attendee
Corporate Live: Any number of participants
Recorded: Access recorded version, only for one participant unlimited viewing for 6 months ( Access information will be emailed 24 hours after the completion of live webinar)
Corporate Recorded: Access recorded version, Any number of participants unlimited viewing for 6 months ( Access information will be emailed 24 hours after the completion of live webinar)
U.S. foreign-trade zones (FTZs) are geographic areas declared to be outside the normal customs territory of the United States.
This means that, for foreign merchandise entering FTZs and re-exported as different products, customs procedures are streamlined and tariffs do not apply. For products intended for U.S. consumption, customs procedures are applied and duties are payable when they exit the FTZ.
U.S. FTZs can affect the competitiveness of U.S. companies by allowing savings through (1) duty reduction on "inverted tariff structures" (where tariffs are higher on imported components than on finished products); (2) customs and inventory efficiencies; and (3) duty exemption on goods exported from, or consumed, scrapped, or destroyed in, a zone.
You should attend to learn how you and your company may become more effective, competitive and profitable.
Why you should Attend:
Areas Covered in the Session:
- How FTZs can and do benefit manufacturing, importing and exporting companies as well as the US economy as a whole through potential lower costs
- How savings from tariff reduction, administrative efficiencies, tax benefits, and duty deferral can and do help US corporations maintain operations in the United States
- How FTZs attract foreign producers to establish manufacturing facilities in the United States
- How FTZs also help communities hold onto their manufacturing bases and secondary service sector support systems and the jobs that go with them
- How consumers can and do benefit from any cost savings for businesses that may be passed along indirectly through lower prices
- How federal, state, and local tax revenues benefit from increased activity that the FTZs may generate, although goods stored or exported from zones are not subject to state and local ad-valorem taxes
Who Will Benefit:
- Background on Free Trade Zones
- Similarities and Differences Among Free Trade Zones Worldwide
- The U.S. Foreign-Trade Zone Program
- Overall Economic Benefits and Costs of FTZs
- Business Benefits and Costs of FTZ Status
- Sources of Cost Savings for U.S. Foreign-Trade Zone Users
- The Administrative Mechanism Behind FTZs
- Application for FTZ Status
- Future of U.S. FTZs
- Customs Officers
- Customs Brokers
- Insurance Companies
- Surety Companies
- Food Stores
- Financial Companies
- Transportation providers (rail air ocean trucking)
- Beverage Manufacturers
- Foreign trade zone Operators
- Testing Laboratories
- Financial Advisors
- International Trade Consultants
- Federal and state and local government Contractors
- Warehouse Operators
- Sales Departments
- Customer Service Departments
Martin K.Behr, III is a customs and international trade lawyer admitted to practice in New Jersey, New York and Pennsylvania, and before the U.S. District Court for the District of New Jersey and the U.S. Court of International Trade. Martin received a Bachelor of Arts degree from Rutgers University - Newark, Phi Beta Kappa, with high honors; a Master of Public Administration degree from Fairleigh Dickinson University; and a law degree from Rutgers School of Law - Newark. Martin is a distinguished graduate of both the U.S. Law Enforcement Training Center and the U.S. Customs Service Academy. He is also a licensed U.S. Customs Broker (No. 20643), one who worked in the industry for several years.
Martin is a former U.S. Customs officer (senior inspector and import specialist), who was stationed at land (Champlain-Rouses Point, NY), air (JFK International Airport and Newark Liberty) and sea (Newark) ports of entry. While with U.S. Customs at the Port of New York/Newark, he was also a member of the agency's export control branch.
Martin is also a former special agent with the U.S. Department of Defense, assistant prosecutor with the Office of Hudson County (NJ) Prosecutor, and an executive with a global FMC-licensed Ocean Transportation Intermediary. Martin was also a trade consultant with Unz & Co.
Presently, Martin is an instructor with City University of New York's Baruch College Continuing and Professional Studies (CAPS), where he teaches import, export, and other international trade courses. In 2013, Martin received the Outstanding Instructor of the Year Award from Baruch CAPS. Martin has also taught international trade courses at Fashion Institute of Technology and Pace University in New York City. Martin is also of counsel to GRVR Attorneys (www.exportimportlaw.com), which specializes in customs and international trade matters.
A frequent lecturer before different trade associations around the country, Martin also provides corporate training and seminars concerning customs and international trade issues.