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The U.S. Foreign Trade Zone Parity Act of 2024 amends customs entry procedures and foreign-trade zone regulations to change how e-commerce shipments from foreign countries are treated. The bill modifies the de minimis exemption (currently allowing small-value imports to enter duty-free) to exclude e-commerce transactions, requiring such shipments to be valued and assessed duties based on their transaction value at the time of withdrawal from a foreign-trade zone. The bill directs the Treasury Department, in coordination with Homeland Security and Commerce, to issue proposed regulations within 120 days and final regulations within specified timeframes to implement these changes.
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