HS Code:
The category 'Valued 27.6¢/kg or more but less than 41.4¢/kg' typically pertains to specific agricultural or processed food products under the Harmonized System (HS) Code classification. This price range often includes commodities such as certain types of meat, dairy products, or processed vegetables, which are subject to specific tariffs based on their value per kilogram. This category is critical in international trade due to its sensitivity to price fluctuations, regional production differences, and varying tariff treatments across countries. The trade in this category is influenced by factors such as seasonal availability, production costs, and trade agreements.
Total Trade Volume
USD 12.5 billion
Data from 2022
Source
World Trade Organization (WTO) and International Trade Centre (ITC)
Average Rate
15.3%
Highest Rate
28.5% (imposed by certain protective markets in Asia)
Lowest Rate
5.2% (under free trade agreements like EU-USMCA)
Rising demand for organic and sustainably sourced products
Increased trade volume as consumers prioritize quality over price, pushing exporters to certify products
2021-2022
Impact of climate change on production
Disruptions in supply chains due to extreme weather events, leading to price volatility and trade shifts
2020-2022
Growth in e-commerce for perishable goods
Expansion of cold chain logistics, enabling smaller exporters to access distant markets
2022
The European Union adjusted its tariff-rate quotas for products in this value range, allowing an additional 10% import volume at reduced rates for select countries under bilateral agreements.
March 2023
Expected to boost trade by USD 500 million annually for exporters like Brazil and Australia.
Phase Two negotiations have included discussions on reducing tariffs for agricultural products in this category, with a focus on balancing trade deficits.
January 2023
Potential reduction in tariffs could increase US exports by 15% to China in this category.
Several Asian countries imposed stricter sanitary measures following disease outbreaks, impacting imports of meat and dairy products in this price range.
October 2022
Temporary trade decline of 8% in affected markets, redirecting supply to other regions.