HS Code:
The 'Other chain' category under the Harmonized System (HS) Code typically refers to chains and parts thereof, made of iron, steel, or other metals, not classified under specific chain categories such as transmission or conveyor chains. This category includes a variety of chains used in industrial, agricultural, and decorative applications. Products in this category are essential components in machinery, equipment, and various consumer goods, playing a critical role in global supply chains. The trade of 'Other chains' reflects industrial activity, manufacturing demands, and infrastructure development worldwide.
Total Trade Volume
USD 1.2 billion
Data from 2022
Source
United Nations Comtrade Database
USD 450 million
37.5% of total trade of total trade
Increasing
USD 200 million
16.7% of total trade of total trade
Stable
USD 150 million
12.5% of total trade of total trade
Increasing
USD 100 million
8.3% of total trade of total trade
Stable
USD 80 million
6.7% of total trade of total trade
Increasing
Average Rate
5.2%
Highest Rate
12% (applied by certain developing countries to protect domestic industries)
Lowest Rate
0% (under free trade agreements like EU-Japan EPA)
Rising demand for industrial chains due to automation
Increased trade volume as manufacturing sectors in Asia and Europe adopt automation technologies requiring durable chains
2021-2022
Shift towards sustainable materials
Growing preference for eco-friendly production methods is pushing manufacturers to adopt recycled metals, influencing cost structures and trade patterns
2022
Supply chain disruptions due to geopolitical tensions
Trade routes and export volumes have been affected by conflicts and sanctions, leading to regional shifts in supply sources
2022
The European Union introduced anti-dumping tariffs ranging from 8-10% on certain 'Other chain' products from China to protect domestic manufacturers.
March 2023
Potential increase in costs for EU importers and a possible shift to alternative suppliers in Southeast Asia or India.
Revised rules under the USMCA agreement have reduced tariffs on 'Other chain' products traded between the US, Mexico, and Canada, promoting regional trade.
January 2023
Expected to boost North American trade volumes by 5-7% over the next two years.
China launched a policy to incentivize sustainable production of industrial components, including chains, with tax breaks for compliant exporters.
June 2023
May enhance China's competitiveness in the global market by reducing production costs and aligning with international environmental standards.