24 Feb 2025
⌚Philip Stein Holding Proposes Production in Foreign-Trade Zone 25
Foreign-Trade Zone (FTZ) 25, Notification of Proposed Production Activity; Philip Stein Holding, Inc.; (Watches); Pembroke Park, Florida
Summary
The Department of Commerce announces a notification from Broward County regarding proposed production activities by Philip Stein Holding, Inc. in Foreign-Trade Zone 25. This involves manufacturing various types of stainless steel watches and related components, which may offer benefits related to duty exemptions and trade regulations, subject to public comment until April 7, 2025.
Agencies
- Commerce Department
- Foreign-Trade Zones Board
Business Impact
$$ - Med
The notice outlines a proposed production activity by Philip Stein Holding, Inc. under the Foreign-Trade Zones (FTZ) program, indicating potential cost savings on duties and tariffs for businesses operating in FTZs. This could mean a more favorable economic environment for manufacturers with foreign components.