North America

US Hikes Tariffs on All Trade Partners Cost pressures are squeezing profitability Since returning to office, President Trump has sharply hiked import tariffs. Key risks:

While the US is largely self-sufficient in EV and automotive battery assembly, it lacks a domestic supply chain for critical components such as cathode and anode materials.

The country also lacks LFP battery production, a key technology for energy storage systems and affordable EVs.

China dominates global supply of LFP cells, CAM, and graphite.

US-based battery producers remain heavily reliant on cathode imports from South Korea and Japan, both of which are now subject to 15% reciprocal tariffs.

Impacts: So far, the impact of escalating trade barriers is seen in driving up production costs, squeezing margins, and spurring massive front-loading of procurement ahead of further tariff hikes. Source: Content & analysis provided by CRU Group Distinguished Partner).For more information, visit crugroup.com. In addition to imports from China, US relies on a Chinese-origin company in Indonesia for LFP CAM.

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