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Democrat Owens, Texas Republican ask for reconsideration to make more work for Foreign Trade Zone manufacturers

Posted 1/9/12

Congressman Bill Owens, (D-NY23) has joined Rep. Kevin Brady (R-TX) in urging the Foreign Trade Zone (FTZ) Board to reconsider a proposed regulation that would make more work for local manufacturers …

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Democrat Owens, Texas Republican ask for reconsideration to make more work for Foreign Trade Zone manufacturers

Posted

Congressman Bill Owens, (D-NY23) has joined Rep. Kevin Brady (R-TX) in urging the Foreign Trade Zone (FTZ) Board to reconsider a proposed regulation that would make more work for local manufacturers located in FTZs.

The proposed rule would require manufacturers to wade through an onerous pre-application process before admitting imported goods.

Owens and Brady sent a letter to the commerce secretary and the treasury secretary asking for reconsideration of the regulations after Owens was contacted about the matter by the Empire State Development Corporation.

“This new requirement would disrupt assembly lines, stifle export opportunities and hinder job creation for New York manufacturers,” said Owens. “I have worked for decades with foreign trade zones located near the border we share with Canada, and I can say with certainty that this would negatively impact American businesses and workers.”

Under current law, U.S. manufacturers in an FTZ are able to admit imported goods, manufacture items from them with American labor and materials, and then export the finished products without paying customs duties. This helps U.S. manufacturers compete in the global market while ensuring that goods are never allowed to compete unfairly with similar products in the U.S. market.

There are four foreign trade zones in New York’s 23rd Congressional District, in Clinton, Jefferson, Oneida and St. Lawrence counties.