HS Code:
The category under HS Code 8479.89.10 and 8479.89.70 pertains to 'Machines and mechanical appliances having individual functions, not specified or included elsewhere in this chapter; parts thereof.' Specifically, these subheadings often include specialized machinery used in industrial processes, such as equipment for manufacturing or processing, which are not covered under other specific machinery categories. These products are critical in various industries including manufacturing, construction, and technology.
Total Trade Volume
Approximately $15.3 billion USD
Data from 2022
Source
United Nations Comtrade Database
$3.2 billion USD
20.9% of total trade of total trade
Increasing
$2.8 billion USD
18.3% of total trade of total trade
Stable
$2.5 billion USD
16.3% of total trade of total trade
Increasing
$1.9 billion USD
12.4% of total trade of total trade
Stable
$1.2 billion USD
7.8% of total trade of total trade
Increasing
Average Rate
4.2% ad valorem
Highest Rate
8.5% (imposed by certain developing countries)
Lowest Rate
0% (under free trade agreements like EU-USMCA)
Rising demand for automation machinery
Increased trade volume due to industrial automation and Industry 4.0 initiatives globally
2021-2022
Shift towards sustainable machinery
Growing preference for energy-efficient and eco-friendly equipment influencing product design and trade
2020-2022
Supply chain disruptions
Delays and increased costs due to geopolitical tensions and pandemic-related challenges
2020-2021
The European Union introduced a 5% tariff on certain machinery imports from select Asian countries to protect domestic manufacturers.
March 2023
Potential increase in costs for EU importers and possible retaliatory tariffs from affected countries.
A new phase of trade negotiations between the US and China includes reduced tariffs on industrial machinery, including items under HS 8479.89.
January 2023
Expected boost in bilateral trade volume for this category by 10-15% in the next fiscal year.
Introduction of AI-integrated machinery under this HS code by leading manufacturers in Germany and Japan.
September 2022
Likely to drive demand and shift market preference towards high-tech solutions, affecting trade patterns.