HS Code:
The 'Wheels with other tires' category, typically classified under HS Code 870870 (for road wheels and parts thereof) or related codes, encompasses wheels fitted with tires that are not specifically categorized under other tire types (e.g., pneumatic or solid). This category includes wheels used for various vehicles such as passenger cars, trucks, and industrial machinery. These products are critical components in the automotive and transportation industries, with demand driven by vehicle production, aftermarket replacements, and industrial applications.
Total Trade Volume
USD 12.5 billion
Data from 2022
Source
UN Comtrade Database, International Trade Centre (ITC)
USD 3.2 billion
25.6% of total trade of total trade
Increasing
USD 1.8 billion
14.4% of total trade of total trade
Stable
USD 1.5 billion
12.0% of total trade of total trade
Increasing
USD 1.1 billion
8.8% of total trade of total trade
Stable
USD 0.9 billion
7.2% of total trade of total trade
Increasing
Average Rate
6.5% ad valorem
Highest Rate
25% (imposed by certain developing countries to protect domestic industries)
Lowest Rate
0% (under free trade agreements like EU-Japan EPA or USMCA)
Shift towards lightweight alloy wheels
Increased demand for aluminum and composite wheels due to fuel efficiency regulations, impacting trade patterns by favoring countries with advanced manufacturing capabilities like Germany and Japan.
2021-2023
Rise in electric vehicle (EV) production
Growing need for specialized wheels suited for EVs, boosting exports from tech-savvy nations like South Korea and China.
2022-2023
Supply chain disruptions
Post-COVID shortages and geopolitical tensions have led to regionalization of supply chains, with increased intra-regional trade in North America and Europe.
2020-2022
The United States extended anti-dumping duties on certain wheel and tire assemblies from China, citing unfair pricing practices.
March 2023
This has led to a shift in sourcing to alternative markets like Vietnam and Thailand, increasing their export shares.
The European Union introduced stricter environmental standards for tire and wheel manufacturing under the Green Deal, mandating lower carbon footprints.
July 2023
Manufacturers in countries with sustainable practices, such as Germany, gain a competitive edge, while others face compliance costs.
South Korean companies unveiled new lightweight wheel designs optimized for electric vehicles, supported by government R&D funding.
September 2023
This positions South Korea as a leader in EV wheel exports, potentially increasing its market share in the coming years.