HS Code:
This category, valued between 48.4¢/kg and 72.6¢/kg, typically includes specific agricultural or processed food products under the Harmonized System (HS) Code classification. While the exact HS Code is not specified, products in this value range often encompass commodities like certain grains, dairy products, or processed meats, which are subject to varying tariff rates based on country of origin, trade agreements, and market conditions. These goods play a significant role in global food supply chains, with trade influenced by seasonal production, geopolitical factors, and consumer demand.
Total Trade Volume
Approximately $12.5 billion USD
Data from 2022
Source
United Nations Comtrade Database & World Trade Organization (WTO) Statistics
$3.2 billion USD
25.6% of total trade of total trade
Increasing
$2.8 billion USD
22.4% of total trade of total trade
Increasing
$1.5 billion USD
12.0% of total trade of total trade
Stable
$1.2 billion USD
9.6% of total trade of total trade
Decreasing
$1.0 billion USD
8.0% of total trade of total trade
Stable
Average Rate
8.5% ad valorem
Highest Rate
25% (imposed by certain developing nations to protect domestic markets)
Lowest Rate
0% (under free trade agreements like EU-USMCA or CPTPP)
Rising demand for organic and sustainably sourced products
Increased trade volume for certified goods, with higher compliance costs for exporters
2021-2022
Supply chain disruptions due to geopolitical tensions
Shift in trade routes, with increased reliance on regional suppliers
2022
Technological advancements in cold chain logistics
Extended shelf life of perishable goods, boosting trade from distant markets
2020-2022
The European Union revised tariff quotas for agricultural imports in this value category, providing preferential access to select trading partners.
March 2023
Expected to increase imports from partner countries by 10-15%, potentially affecting non-preferred exporters.
Recent negotiations have led to a temporary reduction in retaliatory tariffs on US exports in this category to China.
September 2023
Likely to boost US export volumes by $500 million annually in the short term.
Extreme weather events in key exporting regions like Brazil have reduced output, tightening global supply.
July 2023
Price volatility expected to persist, with potential for increased tariffs to manage domestic supply in importing countries.