HS Code:
The 'Adjustable, and parts thereof' category under the Harmonized System (HS) Code typically refers to adjustable tools, equipment, or machinery components that can be modified or adapted for specific uses. This category may include items such as adjustable wrenches, fixtures, or other mechanical parts used across industries like construction, automotive, and manufacturing. Due to the broad nature of this classification, it encompasses a wide range of products with varying applications, making it a significant category in global trade for industrial and commercial purposes.
Total Trade Volume
USD 12.5 billion
Data from 2022
Source
United Nations Comtrade Database
Average Rate
5.2%
Highest Rate
12% (applied by certain developing countries)
Lowest Rate
0% (under free trade agreements like EU-USMCA)
Rising demand for precision tools
Increased imports of high-quality adjustable components in automotive and aerospace sectors, driving growth in markets like Germany and Japan.
2021-2022
Shift towards automation
Growing need for adjustable parts compatible with automated systems, boosting trade volumes in technologically advanced countries like South Korea.
2020-2022
Supply chain diversification
Post-COVID-19 strategies have led to reduced reliance on single-country suppliers, with countries like Vietnam and India emerging as alternative sources.
2021-2023
The United States imposed additional tariffs on adjustable tools and parts from China as part of ongoing trade tensions, citing unfair trade practices.
March 2023
Increased costs for US importers, potential shift to alternative suppliers in Southeast Asia.
The European Union introduced stricter environmental regulations for the production of industrial tools, including adjustable components, to reduce carbon footprints.
July 2022
Higher compliance costs for exporters to the EU, but long-term benefits for sustainable manufacturers.
The Regional Comprehensive Economic Partnership (RCEP) has reduced tariffs on adjustable parts among member countries, boosting intra-regional trade.
January 2022
Enhanced market access for countries like China, Japan, and South Korea, increasing trade volumes within the region.