HS Code:
The category 'Having a wall thickness of 4 mm or more' typically falls under specific HS Codes related to steel or metal products, such as pipes, tubes, or structural components (e.g., HS Code 7304 or 7306 for steel tubes and pipes). This category includes products designed for industrial use in construction, oil and gas, and manufacturing sectors where durability and strength are critical due to the specified wall thickness. These products are essential in infrastructure projects and heavy machinery, contributing significantly to global trade in raw and intermediate materials.
Total Trade Volume
USD 25.3 billion
Data from 2022
Source
United Nations Comtrade Database
Average Rate
5.2%
Highest Rate
25% (imposed by certain developing countries on imports to protect domestic industries)
Lowest Rate
0% (under free trade agreements like EU-Japan EPA or USMCA)
Rising demand for infrastructure projects in developing economies
Increased export opportunities for major producers like China and South Korea, with a focus on high-strength steel products
2021-2023
Shift towards sustainable production methods
Higher costs for manufacturers due to investments in green technologies, potentially affecting price competitiveness
2020-2022
Fluctuations in raw material prices
Volatility in steel prices impacting profit margins and trade volumes, especially for smaller exporters
2022
The United States introduced a 15% tariff on steel products with wall thickness of 4 mm or more from specific countries to curb overcapacity and protect domestic producers.
March 2023
Potential reduction in imports from affected countries, with a possible shift in supply chains to tariff-exempt nations.
The European Union launched a policy requiring steel imports, including those in this category, to meet stringent carbon emission standards starting in 2024.
October 2022
Exporters may face higher compliance costs, potentially benefiting local EU producers or countries with advanced green technologies.
China reduced export rebates for steel products, including pipes and tubes with wall thickness of 4 mm or more, to focus on domestic consumption and environmental goals.
May 2021
Slight decrease in Chinese export volumes, creating opportunities for other major exporters like South Korea and Germany.