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Global Tariffs, Categorized

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📦 Fluid

Fluid

HS Code:

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Overview

The Fluid category, typically encompassing products such as liquid chemicals, industrial fluids, and beverages under various HS Codes (e.g., HS 22 for beverages, HS 27 for mineral fuels and oils, HS 38 for miscellaneous chemical products), represents a significant segment of global trade. These products are essential for industrial processes, energy production, and consumer markets. The category includes a wide range of items from crude oil and refined petroleum to alcoholic beverages and industrial lubricants. Trade in fluids is influenced by geopolitical factors, environmental regulations, and technological advancements in extraction and production.

Total Trade Volume

USD 1.5 trillion

Data from 2022

Source

World Trade Organization (WTO) and International Trade Centre (ITC)

Tariff Analysis

Average Rate

5.2% ad valorem

Highest Rate

25% (imposed by certain countries on specific fluid categories like alcoholic beverages)

Lowest Rate

0% (under free trade agreements for essential fluids like water and certain fuels)

Common Restrictions

  • Import quotas on petroleum products
  • Strict environmental regulations on chemical fluids
  • Excise duties on alcoholic beverages
  • Licensing requirements for hazardous fluids

Market Trends

Shift towards renewable energy fluids

Decreasing demand for traditional fossil fuel-based fluids while increasing trade in bioethanol and other renewable fluids.

2021-2023

Rising demand for industrial lubricants

Driven by growth in manufacturing and automotive sectors, especially in Asia-Pacific regions.

2022

Geopolitical disruptions affecting oil trade

Sanctions and conflicts have led to supply chain disruptions, particularly impacting crude oil exports from Russia.

2022-2023

Recent Developments

OPEC+ Production Cuts

OPEC+ countries announced production cuts to stabilize oil prices amidst global economic uncertainty.

April 2023

Increased prices for crude oil and related fluids, affecting global trade volumes and inflation rates.

EU Green Deal Impact on Fluid Trade

The European Union implemented stricter regulations on chemical fluids under the Green Deal to reduce carbon emissions.

January 2023

Higher compliance costs for exporters to the EU, pushing innovation in eco-friendly fluid alternatives.

US-China Trade Agreement on Industrial Fluids

A new bilateral agreement reduced tariffs on specific industrial fluids to boost trade between the two largest economies.

March 2023

Increased export opportunities for US fluid manufacturers and lower input costs for Chinese industries.