The trade war between China and the United States is on, and the lubricants industry is caught up in it, along with many others. Analysts say some companies are affected more than others, and that many are trying to navigate the new seascape in order to minimize financial impacts.
On July 6 each country implemented 25 percent tariffs applying to hundreds of products, including lubricants and lubricant additives. The U.S. levies apply to an estimated $50 billion per year of imports from China, while Chinas apply to $30 billion in U.S. goods. The U.S. has already announced plans to impose 10 percent tariffs later this year on another $200 billion in Chinese goods.