HS Code:
The category 'Vises, clamps and the like, and parts thereof' falls under HS Code 8205.70. This category includes tools such as vises, clamps, and similar holding devices primarily used in workshops, construction, and manufacturing for securing materials during operations like cutting, drilling, or assembling. These tools are essential in industries requiring precision and stability. Parts thereof refer to components or accessories specifically designed for these tools. Global trade in this category reflects industrial activity, with demand driven by construction, automotive, and manufacturing sectors.
Total Trade Volume
Approximately $1.2 billion USD
Data from 2022
Source
United Nations Comtrade Database and International Trade Centre (ITC)
$450 million USD
37.5% of total trade of total trade
Increasing
$200 million USD
16.7% of total trade of total trade
Stable
$180 million USD
15.0% of total trade of total trade
Increasing
$120 million USD
10.0% of total trade of total trade
Increasing
$80 million USD
6.7% of total trade of total trade
Increasing
Average Rate
5.5% ad valorem
Highest Rate
12% (imposed by certain developing countries to protect local industries)
Lowest Rate
0% (under free trade agreements such as EU Single Market or USMCA)
Rising demand for precision tools in automation
Increased exports from technologically advanced countries like Germany and Taiwan due to the growing adoption of automated manufacturing processes.
2021-2022
Shift toward lightweight and durable materials
Manufacturers are innovating with aluminum and composite materials, leading to higher demand for modern clamps and vises, especially in aerospace and automotive sectors.
2020-2022
Growth in DIY and home improvement markets
Boost in retail demand for affordable vises and clamps in North America and Europe, driven by consumer interest in home projects during and post-COVID-19.
2020-2022
The United States introduced a 10% additional tariff on Chinese-made vises and clamps under Section 301, citing unfair trade practices.
June 2023
Likely to increase costs for US importers and shift some sourcing to Taiwan and India, while potentially straining US-China trade relations further.
The European Union implemented stricter environmental standards for tool manufacturing, requiring lower carbon footprints and sustainable materials.
March 2023
May increase production costs for exporters to the EU but also create opportunities for manufacturers with eco-friendly practices.
Taiwanese manufacturers announced investments in new facilities to meet rising global demand for high-quality vises and clamps.
January 2023
Expected to solidify Taiwan's position as a key exporter, potentially challenging China's dominance in low-cost segments.