HS Code:
This category, under the Harmonized System (HS) Code, pertains to specific articles that are products of Germany or the United Kingdom, with duties suspended except on certain goods entered from foreign trade zones. The category typically includes a variety of manufactured goods, potentially spanning industrial machinery, automotive components, or specialized equipment, which are subject to specific trade agreements and tariff suspensions under international trade rules. The suspension of duties aims to facilitate smoother trade flows between these countries and their trading partners, often under frameworks like the EU-UK Trade and Cooperation Agreement or bilateral agreements.
Total Trade Volume
USD 45.6 billion
Data from 2022
Source
World Trade Organization (WTO) and International Trade Centre (ITC)
Average Rate
2.5%
Highest Rate
5.0% (on specific goods from foreign trade zones)
Lowest Rate
0.0% (under duty suspension agreements)
Increased demand for German and UK machinery post-Brexit
Higher trade volumes with non-EU countries like the US and China due to new trade agreements and duty suspensions.
2021-2022
Shift towards sustainable manufacturing
Growing exports of eco-friendly and energy-efficient products from Germany and the UK, driven by global environmental regulations.
2020-2022
Supply chain disruptions due to geopolitical tensions
Temporary declines in trade volumes with certain regions due to logistical challenges and increased costs.
2022
Adjustments to the EU-UK Trade and Cooperation Agreement have led to extended duty suspensions for specific articles, easing trade barriers.
March 2023
Expected increase in trade volume by 5-7% for affected goods between the UK, Germany, and EU partners.
Ongoing negotiations between the US and UK aim to further reduce tariffs and expand duty suspensions on industrial goods.
June 2023
Potential for a 10% growth in UK exports to the US if agreements are finalized.
Stricter regulations on goods entering from foreign trade zones have been implemented to prevent circumvention of tariffs.
January 2023
Slight reduction in imports through FTZs, with a focus on stricter compliance and documentation.