KPMG Trade & Customs Experts: FTZs Offer Stability in ‘Uncertain’ Environment

Members of the Trade & Customs practice of KPMG LLP argue in favor of FTZs, which “provide stability by offering importers the ability to maintain inventory or manufacturing inputs in a bonded area, prior to the formal entry of merchandise with U.S. Customs and Border Protection and payment of customs duties and fees.” The authors believe that turnkey FTZ implementations and managed services allow businesses to join the FTZ program with “fewer dedicated company resources. Companies with FTZs can benefit from reduced customs fees and duties, improved inventory control, more secure cargo security and quicker transit times, with continued normal daily operations – all while the compliance tasks are assigned to the FTZ ICRS systems and business partners.”