Islip Foreign Trade Zone #52

NAFTZ’s November 2014 Zone Report

Inside highlights the following articles and more...
• Foreign-Trade Zones Boost U.S. Exports and Re-Shoring
• Shortage of bonded truckers to carry FTZ goods
• U.S. encouraged by progress with Japan on Pacific trade pact, but ‘tough’ issues remain
• EU Member States Plead With New Commission Not To ‘Jettison’ ISDS
• REGULATORY UPDATE

Read more: NAFTZ’s November 2014 Zone Report

What Is QP/WP?

QP/WP is the electronic filing of a CF7512 form or In-Bond document to U.S. Customs and Border Protection. Import and export businesses can use QP/WP to move goods In-Bond to another location. In action, this electronic filing smooths out much of the process of moving goods, which used to be bogged down with unnecessary steps.

Read more: What Is QP/WP?

Cotton Imports Saw a Decrease in Fees

At the beginning of this year, the United Stated Department of Agriculture's Agriculture Marketing Service (AMS) presented its Cotton Outlook Report. This report called for a 10.5 percent decline in the average prices of cotton, which brought the price to 68 cents per pound for 2014. International traders note this projection marked a five-year low and was below the average 70 cents per pound production cost the industry faced.

Read more: Cotton Imports Saw a Decrease in Fees