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Is Free Trade Unbalanced?

11/27/2005

By Greg Jones (©Mississippi Clarion-Ledger, November 2005)

In Mississippi, there is a contradictory circumstance of workers, who are dependent on both the growth of global trade and on protection from its counterproductive side effects. The tough competition associated with today’s international trade environment is not an insurmountable barrier for U.S.-based manufacturers, however. To remain competitive, those companies often turn to the U.S. Foreign-Trade Zones (FTZ) program. The program permits a reduction of tariff costs on imported parts and materials used in products manufactured for domestic consumption, while foreign based export-production only “Free Trade Zones” do not.

Companies with Mississippi manufacturing operations that use the FTZ program include Nissan, Chevron-Texaco, Northrop-Grumman, VT Halter Marine, Alliant Aerospace, and Signal International. Through the FTZ program, they reduce tariff costs on imported parts and materials, for export production and for domestic consumption.  With nearly $9 billion in Zone-related economic activity last year, including nearly 1$ billion in value-added activity, Mississippi companies in the FTZ program employ 18,000, with 8,000 of those involved with Zone-related activity. In some instances, products “Made in Mississippi” can displace finished products that might otherwise be produced overseas.

A recent expansion of the Greater Mississippi Foreign-Trade Zone is aimed at helping Northern Mississippi furniture manufacturers to keep their costs down and their doors open. To whatever extent the FTZ program benefits the furniture industry in Mississippi, it will enable many workers to enjoy the blessings of free trade, rather than bear its costs.

The U.S. Foreign-Trade Zones program, which has been in existence since 1934, is designed to improve the competitiveness of U.S.-based companies in international trade. The program does this by helping them reduce their tariff-related costs.

Jones began working in the FTZ program in 1986, and has been an active member in the National Association of Foreign Trade Zone (NAFTZ) since 1987. He served as president from 1993 to 1995, and was designated as an Honorary Life Member in 2000. The Foreign-Trade Zone Corporation is a service provider offering FTZ cost-benefit analyses, FTZ Board applications, training, assistance in designing, creating and managing Zone projects, and Foreign-Trade Zone management software.

    

FTZ Articles
10/30/2017

The FTZ program continues to serve as a reliable tool for American communities and their business constituents.

9/26/2016

Looking for a tool that serves U.S.-based manufacturers to boost operating margins? Learn about the U.S. Foreign-Trade Zones (FTZs) program. 

7/20/2016

The FTZC was awarded 'Best Local Company To Work For' by Lagniappe Magazine. Learn more about why people want to work for and with the FTZC.  

6/22/2016

Learn more about the Foreign Trade Zone Corporation (FTZC) and its SmartZone Software Suite in an article from Supply Chain World Magazine.  

9/3/2015

Still think FTZs are just about large water ports? Think again and learn here how FTZs can be instrumental in helping your globalization efforts. 

9/22/2014

Import values into Zones has tripled in the last decade and businesses continue to save money using the FTZ program. 

5/27/2014

Industrial and development parks through out the United States are discovering that Foreign-Trade Zone status (FTZ) can be a beneficial tool for bringing new economic development to their area.  Read why Neosho, MO is seeking a Foreign-Trade Zone.

9/17/2013

Foreign-Trade Zones Board adopted a comprehensive rewrite of its regulations in 2012. Greg Jones explains how this decision, along with past decisions, have affected the success of FTZs and how FTZs are used by businesses to help compete globally.

5/10/2013

Scott Sheldon and FTZC Announce Partnership to Place Deeper Value on Supply Chain Solutions.

9/22/2010

Foreign Trade Zones: Relief from inverted tariffs enables U.S.-based manufacturers to produce their goods and sell them in the American marketplace, and maintain the operating margins that are essential to their survival. 

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