Companies dependent on imports as part of their global supply chains are increasingly concerned with the ongoing volatility of the global trade environment. US trade actions have already imposed penalty duties on Chinese goods, many European goods, and steel and aluminum products, and additional activity is underway which could significantly impact supply chain costs, including:
- The imposition of US Sections 232, 301, and 201 tariff measures
- Replacement of North American Free Trade Agreement (NAFTA) and United States-Mexico-Canada Agreement (USMCA)
- US positioning itself to renegotiate its World Trade Organization (WTO) commitments
- Future global digital services taxes and potential US retaliation
The US Foreign Trade Zones (FTZ) Program remains an effective tool to mitigate trade disruptions. Companies in Central Texas have access to the program through the Foreign Trade Zone of Central Texas, Inc. (FTZ No. 183), which serves the five Central Texas counties of Bastrop, Caldwell, Hays, Travis and Williamson.
The World Affairs Council of Austin, Ernst & Young, the Austin Regional Manufacturers Association, the Greater Austin Chamber, Greater Austin Black Chamber, Greater Austin Hispanic Chamber, Greater Austin Asian Chamber, and the Foreign Trade Zone of Central Texas are inviting executives involved with trade, supply chain, strategy, and tax to a 60-minute webcast providing insight on current and potential future trade disruptions, benefits of the FTZ for manufacturers and distributors, how to access the FTZ program, and suggested steps to evaluate the potential impact of FTZ use.