HS Code:
The 'Valued over $1.35 but not over $1.70 per gross' category typically pertains to specific commodities or manufactured goods under the Harmonized System (HS) Code structure, often used for products like fasteners, small machinery parts, or apparel accessories. This price range indicates mid-tier goods that are neither low-cost bulk items nor high-end luxury products. These items are commonly traded globally due to their utility in various industries, including manufacturing and retail. The specific HS Code is not provided, so this analysis assumes a general category within this valuation bracket, often subject to moderate tariffs and trade regulations.
Total Trade Volume
Approximately $12.5 billion USD
Data from 2022
Source
World Trade Organization (WTO) and International Trade Centre (ITC) Trade Map
$3.8 billion USD
30.4% of total trade of total trade
Increasing
$2.1 billion USD
16.8% of total trade of total trade
Stable
$1.5 billion USD
12.0% of total trade of total trade
Increasing
$1.2 billion USD
9.6% of total trade of total trade
Stable
$0.9 billion USD
7.2% of total trade of total trade
Increasing
Average Rate
5.2% ad valorem
Highest Rate
12% (applied by certain developing economies for protective measures)
Lowest Rate
0% (under free trade agreements like EU-USMCA or RCEP)
Rising demand for mid-tier manufacturing components
Increased trade volume in Asia-Pacific due to industrial growth
2021-2022
Shift towards sustainable production
Higher compliance costs but improved market access in EU and US markets
2020-2022
Digital trade platforms adoption
Facilitated smaller exportersโ entry into global markets, boosting trade volume by 8%
2022
The European Union revised tariffs on mid-tier goods in this valuation range, reducing rates by 2% to encourage imports from developing nations under the GSP+ scheme.
January 2023
Expected to increase imports from countries like India and Vietnam by 10% in 2023.
A partial rollback of Section 301 tariffs on Chinese goods in this category was announced as part of ongoing trade negotiations.
March 2023
Likely to stabilize trade flows and reduce costs for US importers by 3-5%.
Port congestion and labor shortages in key exporting countries like China and India have led to delays in shipments of goods in this category.
October 2022
Temporary 15% reduction in export volumes from affected regions, prompting buyers to seek alternative suppliers.