HS Code:
The 'Assembled in a wire strip' category, often classified under HS Code 8544.42 (Insulated electric conductors, for a voltage not exceeding 1,000 V, fitted with connectors), pertains to pre-assembled wire strips used in various electrical and electronic applications. These products are essential components in industries such as automotive, telecommunications, consumer electronics, and industrial machinery, facilitating efficient and reliable electrical connections. The category includes a variety of configurations tailored to specific uses, often customized based on length, connector type, and insulation material.
Total Trade Volume
USD 12.5 billion
Data from 2022
Source
United Nations Comtrade Database
USD 3.8 billion
30.4% of total trade of total trade
Increasing
USD 2.1 billion
16.8% of total trade of total trade
Stable
USD 1.5 billion
12.0% of total trade of total trade
Increasing
USD 1.2 billion
9.6% of total trade of total trade
Stable
USD 0.9 billion
7.2% of total trade of total trade
Increasing
Average Rate
5.2%
Highest Rate
15% (applied by certain developing countries to protect local industries)
Lowest Rate
0% (under free trade agreements such as USMCA and EU-Japan EPA)
Rising demand for automotive electronics
Increased production of wire strips for electric vehicles (EVs) and advanced driver-assistance systems (ADAS) has driven a 10% year-on-year growth in trade volume in this segment.
2022
Shift towards sustainable materials
Manufacturers are adopting eco-friendly insulation materials to comply with stringent environmental regulations, influencing cost structures and trade dynamics.
2021-2022
Automation in manufacturing
Automation and Industry 4.0 technologies are reducing production costs and improving precision, leading to competitive pricing in global markets.
2020-2022
A new phase of negotiations between the US and China has led to a temporary reduction in tariffs on electrical components, including wire strips, to promote trade balance.
March 2023
Expected to increase Chinese exports to the US by 8-10% in the short term, benefiting major manufacturers.
The European Union has introduced stricter regulations under the Green Deal, mandating the use of recyclable materials in wire strip production starting in 2024.
January 2023
Manufacturers may face higher compliance costs, potentially affecting export prices from non-EU countries.
Ongoing disruptions due to geopolitical tensions and port delays in key Asian manufacturing hubs have led to a temporary shortage of wire strip components.
October 2022
Increased lead times and costs for importers in North America and Europe, prompting diversification of supply chains.