US graphite producers seek sharp tariff hike on Chinese imports

Investing.com -- US producers of a critical material used in electric vehicle batteries have launched a trade action seeking substantial tariff increases on Chinese graphite. They argue that Beijing's substantial state subsidies are artificially reducing prices, making it difficult for their businesses to compete.

A trade association representing US graphite producers submitted petitions to two federal agencies after business hours on Tuesday. The petitions request investigations into potential violations of anti-dumping laws by Chinese companies, according to documents viewed by Bloomberg News.

The industry group is aiming to trigger punitive tariffs of up to 920% on Chinese graphite in retaliation. This move marks an early sign of potential high-stakes disputes among strategic industries as Donald Trump assumes the presidency with a promise of significantly higher import duties.

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Source: Investing.com