HS Code:
The 'Under 10 cm in length' category typically includes small-scale products such as certain types of fasteners, screws, bolts, or other miniature components often classified under specific Harmonized System (HS) codes in chapters related to machinery, tools, or hardware (e.g., HS Chapter 73 or 83). These products are critical in various industries including construction, automotive, and electronics due to their role in assembly and manufacturing. This category is characterized by high demand in industrial economies and significant trade activity in global supply chains.
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 1.3 billion
10.4% of total trade of total trade
Stable
USD 0.9 billion
7.2% of total trade of total trade
Increasing
Average Rate
5.2%
Highest Rate
12% (imposed by certain developing economies to protect local industries)
Lowest Rate
0% (under free trade agreements such as USMCA or EU-Japan EPA)
Rising demand in electronics manufacturing
Increased trade volume due to the proliferation of small electronic devices requiring miniature components
2021-2022
Shift towards sustainable materials
Growing preference for eco-friendly or recyclable materials in production, affecting supplier selection
2022
Automation in production
Reduction in production costs and increase in output, especially in high-tech economies like Japan and Germany
2020-2022
The United States imposed additional tariffs on Chinese-made small hardware components as part of ongoing trade tensions, citing unfair trade practices.
March 2023
Potential increase in costs for US importers and shift of supply chains to other countries like Vietnam or Taiwan.
The European Union introduced stricter environmental compliance requirements for imported hardware, including products under 10 cm, to align with the Green Deal objectives.
July 2023
Higher entry barriers for non-compliant exporters, favoring producers with sustainable practices.
A bilateral agreement reduced tariffs on industrial components, including those in the under 10 cm category, to boost supply chain integration.
January 2023
Increased trade between the two nations, benefiting electronics and automotive sectors.