HS Code:
The 'Other (840)' category under the Harmonized System (HS) Code typically includes miscellaneous products or machinery parts that do not fall under more specific subcategories within Chapter 84, which covers nuclear reactors, boilers, machinery, and mechanical appliances. This category often encompasses a wide range of items such as specialized components, accessories, or machinery not elsewhere specified, used across various industries including manufacturing, energy, and technology.
Total Trade Volume
USD 15.7 billion
Data from 2022
Source
United Nations Comtrade Database
Average Rate
5.2%
Highest Rate
12.5% (imposed by certain developing countries)
Lowest Rate
0% (under free trade agreements like EU-USMCA)
Rising demand for specialized machinery components
Increased trade volume due to industrial automation and renewable energy projects globally
2021-2022
Shift towards sustainable manufacturing practices
Growing preference for eco-friendly and energy-efficient machinery parts, influencing product design and trade policies
2020-2022
Supply chain diversification
Countries are sourcing from multiple regions to mitigate risks from geopolitical tensions and pandemics, affecting trade patterns
2021-2023
The European Union introduced updated regulations for machinery safety and environmental impact, affecting imports under the 'Other (840)' category.
June 2023
Exporters to the EU must comply with stricter standards, potentially increasing production costs but ensuring higher safety and sustainability.
A recent phase of negotiations reduced tariffs on certain machinery components, boosting trade in the 'Other (840)' category between the two nations.
March 2023
Trade volume between the US and China is expected to rise by 5-7% in this category over the next year.
Ongoing disruptions due to geopolitical tensions in Eastern Europe have led to delays and increased costs for machinery parts in this category.
February 2023
Trade routes and costs are affected, prompting countries to explore alternative suppliers in Asia and Latin America.