FOREIGN TRADE ZONES
Foreign Trade Zones are areas designated by the U.S. Department
of Commerce to be outside the jurisdiction of U.S. Customs. These
zones assist companies by eliminating, reducing, or delaying payment
of U.S. Customs duty on goods brought into such a zone, or on
goods exported from a Foreign Trade Zone outside the country or
to another Foreign Trade Zone.
Companies are also allowed to declare some or all of their facilities
as foreign trade sub-zones. Nissan and Saturn Corp. have done
this – also GE Appliance Park.
|