North America
Pages 489–496 (8 pages)
Text on page 493
US Battery Tariffs May Provide Upside To Domestic NCM
US President-elect Donald Trump has stated he will impose tariffs of 25% on all imports from Canada and Mexico, and an extra 10% on Chinese goods on his first day in office. The tariffs on China would apply to all imports and would come on top of existing levies. Given the recent increase on battery imports from China for EV applications to 25%, from the previous 7.5% level, this would result in a new tariff level of 35% for batteries imported from China. Previously, a tariff level as high as 60% has also been suggested.
Source: Content & Analysis provided courtesy of Rho Motion Distinguished Partner). For more information, visit https://rhomotion.com/research/ev-battery-quarterly-outlook/.
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