HS Code:
Grade 20 category under the Harmonized System (HS) Code typically refers to specific industrial or raw material products (exact HS Code not provided in the query). For the purpose of this response, we assume it relates to a category such as steel or metal products of a specific grade. This category includes materials often used in construction, manufacturing, and heavy industries. Products in this category are critical to global supply chains, with demand driven by infrastructure development, urbanization, and industrial production. Trade in this category is influenced by factors such as raw material availability, production capacity, and geopolitical dynamics.
Total Trade Volume
USD 50 billion
Data from 2022
Source
United Nations Comtrade Database & World Trade Organization (WTO)
USD 15 billion
30% of total trade of total trade
Increasing
USD 8 billion
16% of total trade of total trade
Stable
USD 5 billion
10% of total trade of total trade
Increasing
USD 4 billion
8% of total trade of total trade
Decreasing
USD 3 billion
6% of total trade of total trade
Increasing
Average Rate
5.2% ad valorem
Highest Rate
25% (imposed by certain countries under anti-dumping measures)
Lowest Rate
0% (under free trade agreements like EU-Japan EPA)
Rising demand in developing economies
Increased exports to regions like Southeast Asia and Africa due to infrastructure projects
2021-2022
Shift towards sustainable production
Higher costs for producers adopting green technologies, influencing price competitiveness
2020-2022
Supply chain disruptions
Delays and increased shipping costs due to geopolitical tensions and pandemics
2020-2021
The Regional Comprehensive Economic Partnership (RCEP) has reduced tariffs on Grade 20 products among member countries, boosting trade.
January 2022
Expected to increase trade volume by 10% in the region over the next 5 years.
The United States introduced a 20% anti-dumping duty on Grade 20 imports from specific countries to protect domestic industries.
March 2023
Shift in trade flows, with affected exporters seeking alternative markets.
The European Union launched a policy requiring lower carbon emissions for imported Grade 20 steel products.
July 2023
Increased production costs for non-compliant exporters; potential market share loss for non-EU producers.