Combine dressing ingredients except oil in a blender on low speed until the sugar is dissolved
With blender running, slowly pour oil through top of lid to emulsify and combine completely. Set aside.
Combine shredded cabbage and shredded carrots in a separate large bowl.
Pour dressing over the coleslaw mix and toss to coat evenly.
Refrigerate for at least 2 hours, tossing occasionally, before serving.
Store covered, up to three days.