Trump imposes a 93.5% anti-dumping tariff on Chinese graphite, raising total import costs to 160%
The post Trump imposes a 93.5% anti-dumping tariff on Chinese graphite, raising total import costs to 160% appeared on BitcoinEthereumNews.com. President Donald Trump has imposed a 93.5% anti-dumping tariff on Chinese graphite, after the U.S. Commerce Department concluded that China had been selling the material in the U.S. at unfairly low prices. The announcement was made on Thursday and follows a petition filed in December by American Active Anode Material Producers, a trade group that represents U.S. graphite manufacturers. The new tariff stacks on top of earlier duties, bringing the total cost for importers to about 160%, according to Bloomberg. Graphite is a major material in electric vehicle batteries, used specifically for the anode, and the U.S. imports most of it. Roughly 180,000 metric tons of graphite came into the U.S. last year, and two-thirds of that came from China. The trade group behind the complaint accused Chinese companies of dumping graphite into the U.S. market and undercutting local suppliers. The Commerce Department’s preliminary decision comes with a warning: final determination is due by December 5. Automakers react as tariff disrupts battery supply The tariff comes at a time when carmakers are already facing increasing pressure to keep EV production costs low. Sam Adham, who leads the battery materials division at CRU Group, said the total 160% tariff now adds $7 per kilowatt-hour to the cost of making a standard battery cell. That equals 20% of the value of the tax credit offered under the Inflation Reduction Act, which made it through Trump’s budget approval. “That basically wipes out profits for one or two entire quarters for the Korean battery makers,” Sam said. Companies like Tesla and Panasonic pushed against the new duties before the announcement. They argued that U.S. manufacturers still can’t produce graphite at the quality or volume required for electric vehicle batteries. Tesla, which currently depends heavily on graphite imports from China, was among the firms that…
The post Trump imposes a 93.5% anti-dumping tariff on Chinese graphite, raising total import costs to 160% appeared on BitcoinEthereumNews.com.
President Donald Trump has imposed a 93.5% anti-dumping tariff on Chinese graphite, after the U.S. Commerce Department concluded that China had been selling the material in the U.S. at unfairly low prices. The announcement was made on Thursday and follows a petition filed in December by American Active Anode Material Producers, a trade group that represents U.S. graphite manufacturers. The new tariff stacks on top of earlier duties, bringing the total cost for importers to about 160%, according to Bloomberg. Graphite is a major material in electric vehicle batteries, used specifically for the anode, and the U.S. imports most of it. Roughly 180,000 metric tons of graphite came into the U.S. last year, and two-thirds of that came from China. The trade group behind the complaint accused Chinese companies of dumping graphite into the U.S. market and undercutting local suppliers. The Commerce Department’s preliminary decision comes with a warning: final determination is due by December 5. Automakers react as tariff disrupts battery supply The tariff comes at a time when carmakers are already facing increasing pressure to keep EV production costs low. Sam Adham, who leads the battery materials division at CRU Group, said the total 160% tariff now adds $7 per kilowatt-hour to the cost of making a standard battery cell. That equals 20% of the value of the tax credit offered under the Inflation Reduction Act, which made it through Trump’s budget approval. “That basically wipes out profits for one or two entire quarters for the Korean battery makers,” Sam said. Companies like Tesla and Panasonic pushed against the new duties before the announcement. They argued that U.S. manufacturers still can’t produce graphite at the quality or volume required for electric vehicle batteries. Tesla, which currently depends heavily on graphite imports from China, was among the firms that…
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