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📦 Having a width measuring less than four times the thickness

Having a width measuring less than four times the thickness

HS Code:

📦

Overview

The category 'Having a width measuring less than four times the thickness' pertains to specific metal products, often including bars, rods, or profiles made of steel or other alloys, as classified under the Harmonized System (HS) Code. These products are typically used in construction, manufacturing, and industrial applications where specific dimensional ratios are required for structural integrity or design specifications. This category is critical in industries requiring precise material specifications for safety and performance.

Total Trade Volume

USD 12.5 billion

Data from 2022

Source

United Nations Comtrade Database

Tariff Analysis

Average Rate

5.2%

Highest Rate

25% (imposed by certain developing countries)

Lowest Rate

0% (under free trade agreements like EU-Japan EPA)

Common Restrictions

  • Import quotas in specific regions
  • Anti-dumping duties on steel products from select countries
  • Mandatory certification for quality standards
  • Environmental compliance requirements

Market Trends

Rising demand for high-strength steel in construction

Increased trade volume as infrastructure projects grow in emerging markets

2022

Shift towards sustainable production methods

Higher costs but improved market access in eco-conscious regions like the EU

2021

Technological advancements in metal processing

Enhanced product quality leading to competitive pricing and market expansion

2020

Recent Developments

New EU Tariff Quotas on Steel Imports

The European Union implemented updated tariff-rate quotas on steel products, including those under this HS category, to protect domestic producers from cheap imports.

July 2023

Potential reduction in export volumes to the EU for non-quota countries like China, redirecting trade to other regions.

US-China Trade Agreement Update

A recent phase of negotiations resulted in reduced tariffs on specific steel products, fostering increased trade between the two nations.

March 2023

Positive for US importers and Chinese exporters, likely boosting trade volume by 10-15% in this category.

Global Steel Oversupply Concerns

Reports of global steel oversupply have led to calls for tighter import controls in several countries, impacting products in this category.

January 2023

Potential price drops and increased competition among exporters to offload surplus inventory.