HS Code:
This category refers to products, likely automotive components such as wheel rims, with a rim diameter greater than 43.18 cm (17 inches) but not exceeding 45.72 cm (18 inches). These products fall under a specific Harmonized System (HS) Code related to vehicle parts and accessories. This category is significant in the global automotive industry, catering to passenger vehicles, light trucks, and aftermarket modifications. The trade in this category is influenced by manufacturing capabilities, automotive production hubs, and regional demand for specific vehicle types.
Total Trade Volume
USD 2.5 billion
Data from 2022
Source
United Nations Comtrade Database
Average Rate
6.5%
Highest Rate
12% (imposed by certain developing countries to protect domestic industries)
Lowest Rate
0% (under free trade agreements like USMCA and EU-Japan EPA)
Rising demand for lightweight alloy rims
Increased trade volume as manufacturers shift to aluminum and composite materials for fuel efficiency, particularly in North America and Europe.
2021-2022
Growth in electric vehicle (EV) market
Slight shift in demand for rims compatible with EVs, affecting trade patterns with higher exports from tech-forward countries like Japan and South Korea.
2022
Supply chain disruptions due to geopolitical tensions
Delays and cost increases in raw material supply (e.g., aluminum) have led to temporary trade volume reductions, especially for exporters like China.
2022
The United States introduced a 10% additional tariff on Chinese-manufactured wheel rims under this category, citing unfair trade practices and overproduction.
March 2023
Expected to reduce Chinese exports to the US by 15%, potentially benefiting domestic and alternative suppliers like Mexico and South Korea.
The European Union implemented stricter environmental standards for automotive parts, including rims, mandating lower carbon footprints in production.
January 2023
Manufacturers in Asia may face higher compliance costs, while European producers could gain a competitive edge in the regional market.
A bilateral agreement reduced tariffs on automotive parts, including rims in this category, between Japan and South Korea to near zero.
July 2022
Boosted trade volume between the two nations by 8%, fostering stronger supply chain integration in the Asian automotive sector.