HS Code:
The 'Not over 660 mm' category typically refers to specific products (often related to steel or aluminum sheets, plates, or similar materials) with a width or dimension not exceeding 660 mm, classified under a specific HS Code (not provided in the query). This category is widely used in industries such as construction, automotive, and manufacturing for various applications. The classification ensures standardized trade and tariff application globally, facilitating the movement of such goods across borders. Products in this category are subject to varying tariffs and trade regulations depending on the country of origin and destination.
Total Trade Volume
USD 12.5 billion
Data from 2022
Source
United Nations Comtrade Database
USD 3.8 billion
30.4% of total trade of total trade
Increasing
USD 2.1 billion
16.8% of total trade of total trade
Stable
USD 1.9 billion
15.2% of total trade of total trade
Increasing
USD 1.5 billion
12.0% of total trade of total trade
Stable
USD 1.2 billion
9.6% of total trade of total trade
Increasing
Average Rate
6.5%
Highest Rate
25% (imposed by certain developing countries on imports)
Lowest Rate
0% (under free trade agreements such as EU-Japan EPA)
Rising demand for lightweight materials
Increased trade volume due to automotive and aerospace industries adopting thinner, lighter materials for fuel efficiency.
2021-2022
Shift towards sustainable production
Countries are imposing stricter environmental regulations, affecting production costs and trade flows.
2020-2022
Regional trade agreements
Agreements like USMCA and RCEP have reduced tariffs, boosting trade within member countries.
2020-2022
The European Union introduced anti-dumping duties ranging from 10-20% on steel products under this category from select Asian countries to protect domestic manufacturers.
March 2023
Potential shift in trade flows as exporters seek alternative markets; increased costs for EU importers.
Recent negotiations between the US and China have led to a temporary reduction in tariffs for specific steel categories, including those not over 660 mm.
January 2023
Expected increase in trade volume between the two countries; benefits for US manufacturers reliant on Chinese imports.
Several countries, including Canada and Australia, have introduced stricter environmental standards for metal production, impacting the trade of goods in this category.
June 2022
Higher compliance costs for exporters; potential market access barriers for non-compliant producers.