News, trends and best practices in the import/export and Foreign Trade Zone businesses
Excitement for WNYFTZ Expansion
The Western New York Foreign Trade is truly looking forward to spring and summer for many reasons. This year, the warmer weather signifies
more than just flowers and the
start of days spent at Woodlawn beach, but it also signifies the conclusion of the expansion of our facility. Announcing the expansion via Buffalo Business First back in June 2018, we’re proud to say we’re on track to complete this
project in less than one years’ time.
ACE Promises Big Changes at the Border (that you should know about!)
On March 31, U.S. Customs and Border Protection (CBP) will implement the next phase of its Automated Commercial Environment (ACE) transition, requiring all import entries through CBP (only) to utilize the ACE “Single Window” process. Through ACE, to be fully implemented by the end of 2016, manual import processes will be streamlined and automated, and paper will be eliminated. The purpose of the transition is to enable the international trade community to more easily, efficiently and uniformly comply with U.S. laws and regulations. For entries involving other governmental agencies, the new deadline is 5/28.
Doing Business in the U.S. for Canadian Companies - Recap
On Tuesday, February 23, WNY Foreign Trade Zone had the opportunity to present as part of a panel discussion on “Doing Business in the U.S. for Canadian Companies” with Welke Customs Brokers USA and Celebrezze Law as part of the Greater Niagara Chamber of Commerce’s monthly “Lunch and Learn” series.
The session was well-attended, and in the audience were representatives of companies with interest in selling both services and goods across the border into the U.S. Many were already engaged in cross-border trade and others are just beginning the process. Judging by the reaction from those in attendance and the many questions we received during the discussion and after, “you don’t know what you don’t know” is something that should be on the mind of Canadian companies looking at the U.S. market.
WNY Foreign Trade Zone to Present on “Doing Business in the U.S.” Panel
The United States and Canada have the largest trade relationship in the world. The trade relationship between our two countries crosses all industries, and is vital to both nations' success. Western New York Foreign Trade Zone is proud to partner with the Greater Niagara Chamber of Commerce, Welke Customs Brokers and Celebrezze Law for this roundtable discussion to learn the finer points of doing business with the U.S. for Canadian companies.
The panel discussion, "Doing Business in the U.S. for Canadian Companies," part of the Greater Niagara Chamber of Commerce’s monthly “Lunch and Learn” program, will be held on Tuesday, Feb 23 from noon to 1:30 p.m. at Best Western Hotel and Conference Centre, 2 North Service Road, St. Catharines.
Advantages of Using a Foreign Trade Zone: Exports
by Zachary Finnegan, International Trade Advisor
With WNY Foreign Trade Zone’s proximity to the CanAm border, it is not uncommon for shippers to export into the U.S. to our facility only to then export to Canada or another country. Since goods held in an FTZ are still considered international freight, they can be exported from our facility without ever incurring customs duties.
Advantages of Using a Foreign Trade Zone: Country-of-Origin Labeling
by Zachary Finnegan, International Trade Advisory
If you’re an importer into the U.S., you’ve often dealt with Country-of-Origin labeling, and know that the rules surrounding the process are often changing. One of the benefits of utilizing a U.S. Foreign Trade Zone is that merchandise being imported into the country can be labeled right in the FTZ, properly.
Advantages of Using a Foreign Trade Zone: Cash Flow
by Zachary Finnegan, International Trade Advisory
For importers in the U.S., there are tremendous advantages to utilizing a foreign trade zone. Because of the way FTZs are regulated and bonded, entering a foreign trade zone is legally different than physically entering the U.S., from an import perspective. Which means that until your merchandise leaves the facility, it is still considered international freight.
Weakened Canadian Dollar Creates Opportunities for Some Businesses Along Border
by Katie Gibas, YNN
October 15, 2015 - Link to Story
BUFFALO, N.Y. — Despite traffic from Canada to the U.S. being down because of a weak Canadian dollar, tourism is still at a record high, but what does a devalued Canadian currency mean for businesses who ship and manufacture between borders?
Western New York Foreign Trade Zone is based in the U.S., shipping mostly Canadian products throughout the states.
“We have trucks coming in every day and we have trucks going out everyday,” said Tim Palisano, WNY Foreign Trade Zone President. “Goods come in here and they give us orders and we ship all over the country.”