Wednesday, July 23, 2014

Comments Due Tuesday for Kravet FTZ Application

On May 27, 2014, the Foreign Trade Zone Board published in the Federal Register an application submitted by the South Carolina State Ports Authority, on behalf of Kravet Inc. The Kravet facility is used for the cutting and tagging of textiles, paper wall coverings and decorative trimmings to be used as samples. Production under FTZ procedures could exempt Kravet from customs duty payments on the foreign components used in export production. On its domestic sales, Kravet would be able to choose the duty rates during customs entry procedures that apply to commercial samples of fabric, paper wall coverings and decorative trimmings (duty-free) for the foreign inputs noted below. Customs duties also could possibly be deferred or reduced on foreign status production equipment. The request indicates that the savings from FTZ procedures would help improve the plant's international competitiveness.

Comments are due by Tuesday, July 28th.

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