HS Code:
The category 'Valued not over $40 each, incorporating a clock or clock-timer, not in combination with any other article, and not designed for motor vehicle installation' typically includes standalone clocks or devices with integrated clock-timers, such as alarm clocks, wall clocks, or desk clocks, that are priced at or below $40 per unit. These products fall under specific Harmonized System (HS) codes related to clocks and watches, likely within Chapter 91 of the HS tariff nomenclature. This category excludes clocks combined with other articles (like radios) or those specifically designed for vehicles. These products are widely traded globally, often manufactured in countries with low production costs and exported to consumer markets in developed economies.
Total Trade Volume
Approximately $1.2 billion USD
Data from 2022
Source
United Nations Comtrade Database
$650 million USD
54.2% of total trade of total trade
Increasing
$120 million USD
10.0% of total trade of total trade
Stable
$100 million USD
8.3% of total trade of total trade
Stable
$80 million USD
6.7% of total trade of total trade
Decreasing
$60 million USD
5.0% of total trade of total trade
Increasing
Average Rate
5.5% ad valorem
Highest Rate
12% (applied by certain developing countries)
Lowest Rate
0% (under free trade agreements or WTO bindings in developed markets)
Shift to digital and smart clocks with basic features
Increased demand for low-cost digital clocks over traditional analog models, driven by consumer preference for functionality and affordability
2021-2022
Rising production in Southeast Asia
Diversification of supply chains away from China due to trade tensions and cost increases, boosting exports from countries like Vietnam and Thailand
2020-2022
Sustainability concerns influencing design
Growing consumer and regulatory demand for eco-friendly materials and energy-efficient designs, impacting production costs and market access
2022
The United States extended tariff exemptions on certain low-cost clock products from China under Section 301, reducing the tariff burden temporarily.
March 2023
Temporary relief for importers, potentially stabilizing prices in the US market for these products.
The European Union introduced stricter regulations on electronic waste and energy consumption for clock products as part of the Green Deal initiative.
January 2023
Manufacturers must adapt to new compliance standards, potentially increasing production costs but opening opportunities for sustainable brands.
Vietnam reported a 15% year-on-year increase in exports of low-cost clocks, driven by foreign investment and trade agreements like the EU-Vietnam FTA.
June 2023
Increased competition for traditional exporters like China, potentially reshaping global supply chains.