HS Code:
The category 'With no single side exceeding 75 mm in length' typically falls under specific HS Codes related to small-sized articles, often including items like fasteners, small mechanical components, or certain types of jewelry and accessories. These products are crucial in industries such as manufacturing, construction, and retail due to their utility in assembly and design. This category is characterized by high-volume trade due to the essential nature of these small components in larger assemblies and their widespread use across multiple sectors globally.
Total Trade Volume
USD 12.5 billion
Data from 2022
Source
United Nations Comtrade Database
Average Rate
5.2%
Highest Rate
12.5% (imposed by certain developing countries)
Lowest Rate
0% (under free trade agreements like EU-Japan EPA)
Increased demand for precision components
Driven by growth in electronics and automotive sectors, leading to higher trade volumes in countries with advanced manufacturing capabilities.
2021-2022
Shift towards sustainable materials
Manufacturers are adopting eco-friendly materials, influencing supply chains and increasing costs but improving market access in environmentally conscious regions.
2020-2022
Automation in production
Automation technologies have reduced production costs, boosting exports from technologically advanced countries like Germany and Japan.
2019-2022
The European Union announced a reduction in tariffs for small mechanical components under specific HS codes to promote industrial growth post-COVID-19.
March 2023
Expected to increase imports from Asian manufacturers, particularly China and South Korea, by 10-15% over the next two years.
A revised trade agreement between the US and China includes provisions to lower anti-dumping duties on small fasteners and components.
January 2023
Likely to stabilize trade volumes and reduce costs for US importers, benefiting manufacturers and consumers.
Several countries, including Canada and Australia, have introduced mandatory sustainability certifications for imported small components to ensure environmental compliance.
July 2022
May increase production costs for exporters not yet compliant, potentially shifting trade patterns towards certified producers.