The US has free trade agreements (FTA) with the following...

The US has free trade agreements (FTA) with the following countries which may benefit from the IRA for lithium product manufacturing:

1. Canada and Mexico: As part of the United States-Mexico-Canada Agreement (USMCA), which replaced NAFTA, these countries have trade agreements with the U.S.
2. Chile: Chile is a significant producer of lithium, and the U.S. has a trade agreement with Chile.
3. Australia: Australia is a major producer of lithium and other minerals used in battery production. The U.S.-Australia Free Trade Agreement facilitates trade between these two countries.
4. South Korea: South Korea is involved in the production of batteries and electric vehicles, and the U.S.-Korea Free Trade Agreement promotes trade relations.

Now compare this to the leading countries of downstream processing of Li.

1. China: China is a global leader in the downstream processing of lithium. Chinese companies are heavily involved in battery manufacturing, and the country has a significant share of the global lithium-ion battery market. NO FTA!
2. South Korea: South Korea, home to companies like LG Chem, Samsung SDI, and SK Innovation, is a major player in the production of lithium-ion batteries. These companies are involved in both upstream and downstream aspects of the battery supply chain. FTA!
3. Japan: Japanese companies, including Panasonic and Sony, have a strong presence in the production of lithium-ion batteries. Panasonic, in particular, is a major supplier to electric vehicle manufacturers. NO FTA!
4. United States: The U.S. has seen a growing interest in battery manufacturing, particularly with the expansion of electric vehicle production. Tesla, an American company, is a significant player in the global electric vehicle market.
5. Germany: Germany, with companies like Volkswagen, BMW, and others investing in electric vehicle production, has a presence in the downstream processing of lithium for batteries. NO FTA!
6. Sweden: Sweden is home to companies like Northvolt, a battery manufacturer that aims to play a key role in Europe's battery production. NO FTA!

How much is the IRA actually worth for AKE, Livent or NewCo?