Uncovering the Power of US Foreign Trade Zones: Your Secret to Gaining a Competitive Advantage with Liz Connell
Discover the billion-dollar benefits of US Foreign Trade Zones in the latest episode of Simply Trade podcast! Uncover how these zones create jobs, save money, and protect businesses in an increasingly volatile regulatory environment.
Join Andy, Lalo, and their guest, Liz Connell from Thomson Reuters, as they dive deep into the world of Foreign Trade Zones (FTZs) and their significance in today's economic landscape.
Key Discussion Points
Liz emphasizes the need for FTZs in the current trade environment. With billions of dollars saved annually and job creation in the US, FTZs have never been in higher demand.
Contrary to popular belief, FTZs provide substantial financial and social benefits: bringing jobs to the US, reducing operational costs, and increasing investment opportunities.
Managing cash flow is crucial for CFOs looking to optimize financials. Hence, FTZs can provide attractive opportunities to better manage cash flow by delaying duties and taxes.
One hurdle to overcome is the lack of legislative change to adjust the law related to de minimis shipments from FTZs. Foreign companies currently have an advantage over US companies in this area.
This engaging episode of Simply Trade sheds light on the vital role FTZs play in bolstering the US economy and keeping businesses competitive in our evolving global trade landscape. As Liz Connell notes, FTZs will continue to be a sought-after solution for businesses looking to protect their bottom line in today's unpredictable world.
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