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and US agree to cut tariffs offering the US battery industry some respite","china-and-us-agree-to-cut-tariffs-offering-the-us-battery-industry-some-respite","article/china-and-us-agree-to-cut-tariffs-offering-the-us-battery-industry-some-respite",{"_uid":557,"date":558,"tags":559,"editor":572,"content":582,"excerpt":681,"featured":51,"reporter":682,"_editable":686,"component":687,"seo_title":553,"categories":688,"visibility":696,"author_company":49,"featured_image":697,"seo_description":681,"author_full_name":49,"author_job_title":49,"formattedDate":701,"formattedArticleDate":702},"036a8206-39f8-4df3-8d02-4efa50ace6c5","2025-05-13 00:00",[560,563,566,569],{"slug":561,"name":562},"china","China",{"slug":564,"name":565},"tariffs","Tariffs",{"slug":567,"name":568},"us","US",{"slug":570,"name":571},"policy","Policy",[573],{"slug":574,"name":575,"content":576},"didi-bostock","Didi Bostock",{"job_title":577,"image":578,"bio":580,"linkedin":581},"Editor - Energy Transition & Economics",{"filename":579},"https://a.storyblok.com/f/287943243085208/512x512/2c5ca5c1a3/didi-bostock.jpeg","Didi is the Energy Transition & Economics Editor at Benchmark, covering a broad range of markets across the energy transition. His remit spans from downstream sectors such as BESS and EVs, through to midstream such as new technologies and battery production, to upstream critical minerals mining. He also leads on financial analysis across these supply chains, alongside in-depth policy analysis.\n","https://www.linkedin.com/in/didi-bostock-656342198/",{"type":583,"content":584},"doc",[585,596,603,618,627,632,637,653,658,663,668],{"type":586,"attrs":587,"content":588},"paragraph",{"textAlign":49},[589,592,594],{"text":590,"type":591},"The US and China have agreed to cut respective tariffs by 115 percentage points following two days of talks in Switzerland. The cuts are set to come into force on the 14","text",{"text":593,"type":591},"th",{"text":595,"type":591}," May and will remain in place for the next 90 days. It marks a thawing of relations between the two countries amid a trade conflict that has been steadily escalating over the last few months. This 90-day pause offers some respite for the US battery industry.",{"type":597,"attrs":598,"content":600},"heading",{"level":599,"textAlign":49},4,[601],{"text":602,"type":591},"The US BESS industry is set to gain the most from tariff reductions",{"type":586,"attrs":604,"content":605},{"textAlign":49},[606,608,616],{"text":607,"type":591},"Installations of battery energy storage systems (BESS) in the US grew 60% from 2023 to 2024 according to ",{"text":609,"type":591,"marks":610},"Rho Motion’s BESS Outlook",[611],{"type":612,"attrs":613},"link",{"href":614,"uuid":49,"anchor":49,"target":49,"linktype":615},"https://rhomotion.com/research/#energy-stationary-storage","url",{"text":617,"type":591},". Of these installations ~90% relied on imported lithium ion cells from China. Under tariffs announced in April these cells were facing levies of 155.9%. Under the recently announced reduction these cells will instead face a 40.9% tariff increasing to 58.4% from 2026 as new Section 301 tariffs come into force.",{"type":586,"attrs":619,"content":620},{"textAlign":49},[621],{"type":622,"attrs":623},"image",{"id":49,"alt":624,"src":625,"title":49,"source":49,"copyright":49,"meta_data":626},"","https://a.storyblok.com/f/287943243085208/544e9b29f1/bm-screenshot-2025-05-12-160855-1342521b0681.png",{},{"type":586,"attrs":628,"content":629},{"textAlign":49},[630],{"text":631,"type":591},"Notably this realigns the price of Chinese cells with US made cells, possibly leaving room for Chinese cells to still be cheaper than US alternatives, as US cell prices are expected to increase as a result of the tariffs.",{"type":597,"attrs":633,"content":634},{"level":599,"textAlign":49},[635],{"text":636,"type":591},"Will tariff cuts help the US battery industry?",{"type":586,"attrs":638,"content":639},{"textAlign":49},[640,642,648,650,651],{"text":641,"type":591},"The US’ battery industry is heavily dependent on Chinese supply chains for materials. In 2024, ",{"text":643,"type":591,"marks":644},"Benchmark’s Cathode Forecast",[645],{"type":612,"attrs":646},{"href":647,"uuid":49,"anchor":49,"target":49,"linktype":615},"https://www.benchmarkminerals.com/cathode/data-reports/forecast",{"text":649,"type":591}," showed that of the batteries made in the US over 90% of them relied on imported cathode active material (CAM), the majority of which came from China. Under the previous tariffs, these materials were subject to 170% levies from the 14",{"text":593,"type":591},{"text":652,"type":591}," May this will decrease to 55%. This still remains higher than the 25% tariff these materials were subject to in 2024, meaning profit margins are expected to be further eroded as raw materials costs increase for domestic battery producers.",{"type":597,"attrs":654,"content":655},{"level":599,"textAlign":49},[656],{"text":657,"type":591},"The role of tariff uncertainty",{"type":586,"attrs":659,"content":660},{"textAlign":49},[661],{"text":662,"type":591},"The effect of the tariffs on the US battery and BESS industry has not been immediate as inventory build-up has acted as a buffer, shielding players from immediate price rises. But uncertainty over changing tariff levels may lead players to delay or reassess business plans due to potential risks to increased costs, supply chain disruption and profitability.",{"type":597,"attrs":664,"content":665},{"level":599,"textAlign":49},[666],{"text":667,"type":591},"Rare earths see export restrictions raised",{"type":586,"attrs":669,"content":670},{"textAlign":49},[671,673,679],{"text":672,"type":591},"China will also remove non-tariff countermeasures it imposed on the US, which included export restrictions on medium and heavy rare earths. ",{"text":674,"type":591,"marks":675},"The US has very little domestic rare earth mining and processing capacity and is highly reliant on imports for China for these key elements",[676],{"type":612,"attrs":677},{"href":678,"uuid":49,"anchor":49,"target":49,"linktype":615},"https://source.benchmarkminerals.com/article/china-tightens-rare-earth-exports-amid-escalating-trade-tensions-with-us",{"text":680,"type":591}," to meet demand from strategically important industries, such as defence.","The US and China have agreed to cut respective tariffs by 115 percentage points following two days of talks in Switzerland. The cuts are set to come into force on the 14th May and will remain in place for the next 90 days. It marks a thawing of relations between the two countries amid a […]",[683],{"slug":574,"name":575,"content":684},{"job_title":577,"image":685,"bio":580,"linkedin":581},{"filename":579},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"036a8206-39f8-4df3-8d02-4efa50ace6c5\", \"id\": \"\"}-->","article",[689,691,693],{"slug":690,"name":265},"anode",{"slug":692,"name":300},"cathode",{"slug":694,"name":695},"ess","ESS","private",{"id":49,"alt":624,"name":624,"focus":624,"title":624,"source":624,"filename":698,"copyright":624,"fieldtype":699,"meta_data":700,"is_external_url":51},"https://a.storyblok.com/f/287943243085208/ceede72be0/bm-adobestock-651440484-scaled.jpeg","asset",{"alt":624,"title":624,"source":624,"copyright":624},"May 13, 2025","13th May 2025",[],[],1789982567081]