Trump tariffs lead to surge of companies parking imports in tax-free ‘foreign trade zones’
Companies large and small are turning to special U.S. Customs-approved sites to avoid, at least temporarily, the payment of new tariffs implemented by President Trump.
These locations, called foreign trade zones (FTZs) and bonded warehouses, are specially designated, secured storage or manufacturing sites approved by U.S. Customs where freight is not subject to U.S. duties or excise taxes. Duties are only paid by the importer when the goods are transferred out of the FTZ or bonded warehouse for U.S. market consumption.
