H.R. 6415

On June 26th, Rep. William Pascrell (D, NJ) introduced H.R. 6415. The bill, which aims at providing that goods manufactured in foreign trade zones comply with U.S. trade agreements and receive the proper customs rate, has been referred to the Committee on Ways and Means. The bill includes a modification to the Foreign Trade Zone Act, 19 U.S.C. 81c(a), in which language will now be included that explicitly states the aim of this bill. Included also is an amendment to the NAFTA Implementation Act, which states the transaction value method percentage needed or the net cost method percentage needed for a good to be considered as originating from a NAFTA country. According to the Peterson Institute for International Economics this bill could potentially create 90,000 new jobs in the United States, and according the NAFTZ this bill eliminates the disparity between manufacturing facilities located in FTZ and those located in FTA countries.

A copy of the bill can be found Here.