CRS Updates Report on Benefits and Costs of FTZs
Foreign trade zone use has seen an increase among both foreign and domestic sources, according to an updated Congressional Research Service report on FTZs. Some 58 percent, or $429 billion of goods into zones in 2012 were of domestic origin,…
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the report said. That's up from $311 billion in 2010, according to last year's FTZ CRS report (see 12091101). About 42 percent, or $304 billion, of goods came from foreign sources in 2012, up from $223 billion in 2010. "The zone system accounts for 13 percent of all foreign goods entering the United States and employs roughly 370,000 workers, representing about 3 percent of U.S. manufacturing workers in 2012—most but not all FTZ employees are in manufacturing," said the report. The newly released Nov. 12 report, titled “U.S. Foreign-Trade Zones: Background and Issues for Congress,” gives background on free trade zones in general, outlines the U.S. FTZ program, and discusses current FTZ and worldwide zone-related issues for Congress.