HS Code:
The 'Other (340)' category under the Harmonized System (HS) Code typically includes a variety of miscellaneous products related to soaps, organic surface-active agents, washing preparations, lubricating preparations, artificial waxes, prepared waxes, polishing or scouring preparations, candles, and similar articles that do not fall under more specific subcategories within HS Chapter 34. This category serves as a catch-all for niche or less common items within the broader classification of soap and detergent-related products. It encompasses a wide range of chemical and household products used in industrial, commercial, and domestic applications.
Total Trade Volume
USD 5.2 billion
Data from 2022
Source
United Nations Comtrade Database
USD 1.1 billion
21.2% of total trade of total trade
Increasing
USD 900 million
17.3% of total trade of total trade
Stable
USD 750 million
14.4% of total trade of total trade
Increasing
USD 500 million
9.6% of total trade of total trade
Stable
USD 400 million
7.7% of total trade of total trade
Increasing
Average Rate
5.8% ad valorem
Highest Rate
12% (applied by certain developing countries)
Lowest Rate
0% (under free trade agreements like EU-USMCA)
Rising demand for eco-friendly products
Increased production of biodegradable and organic surface-active agents, driving innovation in the 'Other (340)' category.
2021-2022
Growth in industrial cleaning applications
Higher export volumes to manufacturing-heavy economies due to demand for specialized cleaning and lubricating preparations.
2020-2022
Supply chain disruptions
Delays in raw material availability have led to price volatility and temporary trade declines in some regions.
2021
The European Union introduced stricter environmental regulations under the Green Deal, affecting the formulation and import of chemical products in the 'Other (340)' category.
January 2023
Increased compliance costs for exporters to the EU, but also a boost for manufacturers of sustainable products.
Phase Two negotiations between the US and China included reduced tariffs on miscellaneous chemical products, facilitating smoother trade flows.
March 2022
Positive for exporters in both countries, with a projected 5% increase in bilateral trade volume for this category.
Post-COVID recovery efforts have led to stabilization in the supply of raw materials critical for products in this category.
Mid-2022
Reduction in price volatility and improved trade consistency across major markets.