Businesses are increasingly taking advantage of the ability of a Foreign-Trade Zone (FTZ) to deliver significant benefits. Any size of importer or exporter, including retailers and medium to large manufacturers, can defer costs incurred from customs duties, taxes and tariffs, improve speed to global markets, competitiveness, and minimize encounters with bureaucratic regulations.
But many are now realizing that FTZs are just one element in a sophisticated import or export supply chain management strategy.
Most of the tainted drugs originated in India and China, which have become popular sources of generic medications and active-drug ingredients as producers and health-care providers try to hold down costs.
Taiwan, home base of many of the world’s top producers of electronics, is helping its companies to seek out new Asian manufacturing hubs outside China as skyrocketing U.S. tariffs threaten to splinter the global tech supply chain.
President Trump weighed in on the state of trade negotiations with China, saying the U.S. is on the cusp of taking in massive tariffs from China — at odds with his economic adviser, who conceded Sunday that U.S. companies and consumers would pay the tariff bill.
This year’s global trade tensions have forced new challenges and difficult decisions upon many companies — including tariff increases, shipping delays and complete restructuring of operations and manufacturing networks.