Market Chatter: US Plans 93.5% Tariff on Chinese Graphite
The US Commerce Department plans to impose preliminary anti-dumping duties of 93.5% on Chinese graphite, raising the effective tariff to 160%. This will add $7 per kilowatt-hour to the cost of an average EV battery cell. Tesla and Panasonic have lobbied against these tariffs, citing reliance on Chinese graphite due to underdeveloped domestic production. Key Chinese producers include Shanghai Putailai, Fangda Carbon, and Shenzhen XFH Technology.
The US Commerce Department is set to impose preliminary anti-dumping duties of 93.5% on Chinese graphite, a component used in electric vehicle batteries, Bloomberg News reported late Thursday.
The move brings the effective tariff on these imports to 160%, according to the report.
This equates to $7 per kilowatt-hour for an average EV battery cell, the report said.
Tesla and Japan's Panasonic Holdings had actively lobbied against the new tariffs, arguing that they rely on Chinese graphite due to the insufficient development of the domestic U.S. industry, Bloomberg said.
Among the producers of graphite in China are Shanghai Putailai New Energy Technology , Fangda Carbon New Material and Shenzhen XFH Technology .
Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.
