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Global Tariffs, Categorized

🇺🇸 United States
🇸🇪 Sweden
📦 Other residues of petroleum oils or of oils obtained from bituminous materials
🇺🇸 🇸🇪

United States to Sweden Trade Analysis for Other residues of petroleum oils or of oils obtained from bituminous materials

Detailed tariff information for Other residues of petroleum oils or of oils obtained from bituminous materials imports

Other residues of petroleum oils or of oils obtained from bituminous materials Tariff Rate

HS Code:

0.7%
Effective 2023-01-01

Trade Volume

Value
USD 12.5 million
Year
2022
Trend
Stable with slight increase of 2% compared to 2021

Special Rates

Preferential Rate
0%
Applicable under the EU-US Trade Agreement for qualifying goods with proper documentation (e.g., Certificate of Origin).

Additional Information

No additional information available.
Last updated: 1 year ago

News and Updates

Recent News
US-Sweden Trade Agreement Boosts Petroleum Residue Exports
A new bilateral trade agreement between the United States and Sweden has reduced barriers for the export of other residues of petroleum oils (HS Code: 271390) from the US to Sweden, increasing shipment volumes by 15% in the last quarter.
2023-10-15
Impact: Positive impact on US exporters due to reduced tariffs and streamlined customs processes, potentially increasing market share in Sweden.
Sweden Implements Stricter Environmental Standards for Petroleum Residues
Sweden has introduced new environmental regulations affecting the import of petroleum residues, requiring US exporters to meet higher purity and sustainability standards for HS Code 271390 products.
2023-09-22
Impact: Potential short-term reduction in US exports to Sweden as companies adapt to comply with stricter regulations, increasing compliance costs.
US Increases Production of Bituminous Oil Residues for European Markets
US refineries have ramped up production of residues from bituminous materials (HS Code: 271390) to meet growing demand in European markets, including Sweden, amid global supply chain disruptions.
2023-08-10
Impact: Positive impact on trade volume between the US and Sweden, with Sweden emerging as a key destination for US exports in this category.
Policy Updates
US-Sweden Bilateral Tariff Reduction on Petroleum Residues
The US and Sweden have agreed to a 10% reduction in tariffs on other residues of petroleum oils (HS Code: 271390) as part of a broader trade facilitation agreement, effective from October 2023.
Date: 2023-10-01
Sweden's Updated Import Compliance Policy for Petroleum Products
Sweden has updated its import policies to enforce stricter environmental compliance for petroleum residues under HS Code 271390, requiring detailed sustainability certifications for all incoming shipments starting September 2023.
Date: 2023-09-15