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Mason Transfer and Grain Co., bonded warehouse on the South Texas Border. Taken by Robert Runyon sometime between 1900 and 1920.. A bonded warehouse, or bond, is a building or other secured area in which imported but dutiable goods may be stored, manipulated, or undergo manufacturing operations without payment of duty. [1]
The United States imposes tariffs (customs duties) on imports of goods. The duty is levied at the time of import and is paid by the importer of record. Customs duties vary by country of origin and product. Goods from many countries are exempt from duty under various trade agreements. Certain types of goods are exempt from duty regardless of source.
Often they have relaxed jurisdiction of customs or related national regulations. They can be ports or other large areas or smaller allocated areas. Terms include free port (porto Franco), free zone (zona franca), bonded area (US: foreign-trade zone), free economic zone, free-trade zone, export processing zone and maquiladora.
1937 poster celebrating the United States' first foreign trade zone, Staten Island In the United States, a foreign-trade zone (FTZ) is a geographical area, in (or adjacent to) a United States Port of Entry, where commercial merchandise, both domestic and foreign, receives the same Customs treatment it would if it were outside the commerce of the United States.
The United States Customs Service was a federal law enforcement agency of the U.S. federal government.Established on July 31, 1789, it collected import tariffs, performed other selected border security duties, as well as conducted criminal investigations.
WASHINGTON (Reuters) -The United States blocked imports from 26 Chinese cotton traders or warehouse facilities on Thursday as part of its effort to eliminate goods made with the forced labor of ...
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