China tariffs: Tesla and Ford most impacted near-term - Wolfe
Earlier this week, the Biden Administration said it plans to raise tariffs on electric vehicles and related components sourced from China.
Key highlights of the proposed move include a substantial increase in tariffs on China-made EVs, which will rise from 25% to 100% in 2024. This does not include the global 2.5% tariff rate, meaning the new rate would be 102.5%. However, synthetic graphite, which constitutes 70% of global battery usage, is not included in the tariff list.
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