Florida Watchmaker Eyes Duty Savings in Trade Zone
Published Date: 2/24/2025
Notice
Summary
Philip Stein Holding, Inc. in Pembroke Park, Florida, wants to start making a variety of stainless steel watches and imitation jewelry bracelets using some imported parts under special Foreign-Trade Zone rules. This change could help them save on import duties and speed up production. The proposal was officially submitted in February 2025 and is now under review by the government.
Analyzed Economic Effects
4 provisions identified: 1 benefits, 2 costs, 1 mixed.
FTZ Production Request for Watchmaker
Philip Stein Holding, Inc. filed a notification on February 12, 2025 asking to conduct production activity at its Pembroke Park, Florida facility inside Foreign-Trade Zone (FTZ) 25 to make a range of stainless steel watches and imitation jewelry bracelets. The request asks authorization to use specified imported components under FTZ procedures for those listed finished products.
Duty Rates for Listed Watch Items
The notice lists duty rates for the proposed finished products and foreign-status components as ranging from duty-free up to 8%, and also shows per-piece duties of $0.40–$0.44 for certain items. Those rates apply to the specific watches, bands, and imitation jewelry bracelets named in the filing.
IEEPA/Section 301 Country-Specific Duty Rule
The filing states certain materials/components are subject to duties under Section 1702(a)(1)(B) of the International Emergency Economic Powers Act and section 301 of the Trade Act of 1974 depending on country of origin. Those subject merchandise items must be admitted to FTZs in privileged foreign status under 19 CFR 146.41.
FTZ Activity Limited to Listed Items
Under 15 CFR 400.14(b), any FTZ production activity would be limited to the specific foreign-status materials/components and specific finished products described in the notification and later authorized by the FTZ Board. The Board must authorize the described items before FTZ procedures apply.
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