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Outcome of U.S. trade action for 920% graphite tariff by end of 2024
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Resolution / Starting Odds
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Official announcements from the U.S. Department of Commerce or U.S. Trade Representative
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U.S. Graphite Producers Seek 920% Tariff on Chinese Imports, Up from 25%, to Protect EV Market
Dec 18, 2024, 10:29 AM
U.S. graphite producers, led by Australian company Novonix, have initiated a trade action seeking a 920% tariff increase on Chinese graphite imports. This move is aimed at countering what they describe as unfair competition due to significant state subsidies provided by Beijing. Currently, tariffs on certain types of graphite stand at approximately 25%. The proposed increase is intended to raise the costs of electric vehicles (EVs) and is part of a broader strategy to protect domestic suppliers from alleged dumping violations by China. The trade group representing U.S. producers argues that the tariff hike is necessary to ensure fair market conditions for the vital material used in EV batteries.
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