Base oils imports were among a list of energy-related products exempted from new tariffs that the US announced this week.
The US will impose universal tariffs on most imported goods that will start at 10% with effect from 5 April.
Exemptions to the tariffs included energy products like crude oil and oil products.
“The following goods as set forth in Annex II to this order, consistent with law, shall not be subject to the ad valorem rates of duty,” President Donald Trump said in a statement on 2 April.
The harmonised system code used for US base oils imports is one of the items listed among the products in the Annex II document.
US base oils imports consist almost entirely of Group III base oils.
The US is reliant on overseas suppliers in northeast Asia and the Middle East for most of its Group III base oils requirements.
