Mainly because the U.S. doesn’t really import lithium as it does not have the downstream processing capability!
Most of the Lithium to the U.S. comes from China- after coming from Aus or South America
In the case of batteries, we could be talking about really high tariff rates, because most batteries and their components currently come from China.As of 2023, the country made more than 75% of the world’s lithium-ion battery cells, according todata from the International Energy Agency.
Trump’s new plan adds a 34% tariff on all Chinese goods, and that stacks on top of a 20% tariff that was already in place, making the total 54%. (Then, as of Wednesday, the White House further raised the tariff on China, making the total 104%.)
But when it comes to batteries, that’s not even the whole story. There was already a3.5% tariffon all lithium-ion batteries, for example, as well as a 7.5% tariff on batteries from China that’s set to increase to 25% next year.
Yeah BUT the U.S. govt has stated it wants its own lithium supply and it’s prepared to help Cos financially and with permitting to achieve it.
Now Lithium BATTERIES, who in the U.S. could produce lithium to help these battery plants get producing.
(20min delay)