HS Code:
This category includes castings, weldments, or fabrications for various machine tool components such as beds, bases, tables, heads, tails, saddles, cradles, cross slides, columns, arms, saw arms, wheelheads, tailstocks, headstocks, rams, frames, work-arbor supports, and C-frames, typically classified under HS Code 8466.93. These components are critical for the structural integrity and functionality of machine tools used in industries like manufacturing, automotive, and aerospace. They are often made from materials like cast iron, steel, or other alloys to ensure durability and precision.
Total Trade Volume
USD 1.2 billion
Data from 2022
Source
United Nations Comtrade Database
USD 350 million
29.2% of total trade of total trade
Increasing
USD 200 million
16.7% of total trade of total trade
Stable
USD 180 million
15.0% of total trade of total trade
Increasing
USD 150 million
12.5% of total trade of total trade
Stable
USD 100 million
8.3% of total trade of total trade
Increasing
Average Rate
5.8% ad valorem
Highest Rate
12% (applied by certain developing countries)
Lowest Rate
0% (under free trade agreements like EU-Japan EPA)
Rising demand for precision components
Increased trade volume due to growth in CNC machine tool manufacturing and automation industries
2021-2022
Shift towards lightweight materials
Growing use of advanced alloys and composites in fabrications to improve energy efficiency and reduce costs
2020-2022
Regionalization of supply chains
Manufacturers are sourcing components closer to production hubs to mitigate geopolitical risks and reduce lead times
2022
The United States extended Section 301 tariffs on Chinese imports, including machine tool castings and weldments, citing unfair trade practices.
March 2023
Increased costs for US manufacturers, potential shift of sourcing to other countries like Vietnam or India
New EU regulations under the Green Deal mandate stricter environmental standards for machine tool component production, affecting exporters to the EU.
July 2023
Higher compliance costs for exporters, but opportunities for suppliers with sustainable practices
A bilateral agreement reduced tariffs on machine tool components, boosting trade between the two countries.
January 2023
Enhanced competitiveness of Japanese and South Korean manufacturers in the global market