US increases tariffs on batteries from China to 25%

The Biden Administration is significantly increasing tariffs on batteries and battery parts imported into the US from China. Tariff rates for lithium-ion batteries for electric vehicles (EVs) and non-EV lithium-ion batteries will rise to 25% in 2024 and 2026 respectively. This move is part of measures to protect American workers and businesses from China's unfair trade practices, including hiking tariffs on various products. China dominates the global lithium-ion battery market, leading to concerns about US industry competitiveness. The Inflation Reduction Act supports the US clean energy industries with tax credits and funding. The article also mentions Solar Media's upcoming events.

Source: ESN