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EV minerals tariffs spark fears of new rare earths-like crisis","trumps-ev-minerals-tariffs-spark-fears-of-new-rare-earths-like-crisis","article/trumps-ev-minerals-tariffs-spark-fears-of-new-rare-earths-like-crisis",{"_uid":557,"date":558,"tags":559,"editor":569,"content":579,"excerpt":667,"featured":50,"reporter":668,"_editable":672,"component":673,"seo_title":553,"categories":674,"visibility":689,"author_company":49,"featured_image":690,"seo_description":667,"author_full_name":49,"author_job_title":49,"formattedDate":695,"formattedArticleDate":696},"99383785-5403-43dd-b711-ccae2e124cb3","2018-08-06 00:00",[560,563,566],{"slug":561,"name":562},"tariffs","Tariffs",{"slug":564,"name":565},"usa","USA",{"slug":567,"name":568},"policy","Policy",[570],{"slug":571,"name":572,"content":573},"didi-bostock","Didi Bostock",{"job_title":574,"image":575,"bio":577,"linkedin":578},"Editor - Energy Transition & Economics",{"filename":576},"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":580,"content":581},"doc",[582,590,596,601,606,613,618,623,628,633,638,645,650,655,662],{"type":583,"attrs":584,"content":586},"heading",{"level":585,"textAlign":49},6,[587],{"text":588,"type":589},"Critical minerals for the EV and battery supply chain will be hit by latest US tariffs on Chinese imports","text",{"type":591,"attrs":592,"content":593},"paragraph",{"textAlign":49},[594],{"text":595,"type":589},"At the start of July, it was announced that the US has started the process to impose tariffs on a further US $200 billion of Chinese imports.",{"type":591,"attrs":597,"content":598},{"textAlign":49},[599],{"text":600,"type":589},"The Office of the United States Trade Representative (USTR) published a list of products that would be hit by punitive tariffs of 10%. The minerals affected include, flake and artificial graphite, coated spherical graphite for use in anodes, lithium carbonate and hydroxide and cobalt.",{"type":591,"attrs":602,"content":603},{"textAlign":49},[604],{"text":605,"type":589},"Considering the globalised nature of the battery supply chain and the broad range of materials listed, the 10% tariff looks on paper to have significant implications for the battery supply chain.",{"type":591,"attrs":607,"content":608},{"textAlign":49},[609,611],{"text":610,"type":589},"Benchmark asked Daniel McGroarty of Carmot Strategic Group, based in Washington D.C,",{"text":612,"type":589},"\nabout the implications of the tariffs on U.S government policy. McGroarty is a subject matter expert on critical and strategic materials and supply chains and has testified on these matters to US Senate and House committees in the past.",{"type":591,"attrs":614,"content":615},{"textAlign":49},[616],{"text":617,"type":589},"“2018 has seen some significant steps in U.S. critical minerals policy, after inaction that stretches back a decade and more,” he said. “I’m thinking specifically of the President’s promulgation of a U.S. Government Critical Minerals List earlier this year.”",{"type":591,"attrs":619,"content":620},{"textAlign":49},[621],{"text":622,"type":589},"“The injection of many of these same critical minerals into the U.S.-China trade war – 32 of the 35 ‘criticals’ are on the U.S. tariff list – suggests to me U.S. policymakers have yet to see the danger our deep dependency creates,” McGroarty explained.",{"type":591,"attrs":624,"content":625},{"textAlign":49},[626],{"text":627,"type":589},"The tariffs are coming out of Washington but there are fears that China could take reciprocal action.",{"type":591,"attrs":629,"content":630},{"textAlign":49},[631],{"text":632,"type":589},"China has been involved in international disputes over critical minerals before. McGroarty suggested “there’s reason to be concerned.”",{"type":591,"attrs":634,"content":635},{"textAlign":49},[636],{"text":637,"type":589},"“China has ‘weaponised’ rare earths before in the 2010 East China Sea incident, cutting off Japan’s rare earths supply for nearly two months. While there was a spike in interest in non-Chinese REE (rare earth element) projects – and some sharp statements of concern by US and Western policymakers – there was little follow-through.”",{"type":591,"attrs":639,"content":640},{"textAlign":49},[641,643],{"text":642,"type":589},"“As this US-China trade war – which I see in significant respects as a tech war, given the materials on the tariff list – plays itself out, I am concerned that China may respond to the threat of a 10% tariff on REEs, or",{"text":644,"type":589},"\nlithium, cobalt and graphite by simply saying, ‘never mind the tariff, we won’t be exporting any of these materials at any price’.”",{"type":591,"attrs":646,"content":647},{"textAlign":49},[648],{"text":649,"type":589},"Finally, McGroarty commented on strategic developments for critical minerals.",{"type":591,"attrs":651,"content":652},{"textAlign":49},[653],{"text":654,"type":589},"“Judging from the Congress’ failure to retain the House critical minerals provisions in the just-completed 2019 National Defense Authorization Act – both of the critical minerals provisions were stripped out of the final bill – I can’t say that U.S. policymakers are giving critical minerals the strategic consideration they deserve. I hope it won’t take a crisis to spur the U.S. into action.”",{"type":591,"attrs":656,"content":657},{"textAlign":49},[658,660],{"text":659,"type":589},"These are the second round of tariffs proposed by the U.S, amid concerns of a developing trade war. In response to the first round of tariffs Chinese Premier, Li Keqiang, said at a news briefing that “trade war is never a solution” and that “China would never start a trade war but if any party resorts to an increase of tariffs, then China will take measures in response",{"text":661,"type":589},"\nto protect development interests.”",{"type":591,"attrs":663,"content":664},{"textAlign":49},[665],{"text":666,"type":589},"Whether critical minerals will be affected by a Chinese response to the tariffs is not yet clear. But considering the precedent set by the rare earths crisis in 2010 it is possible China’s response could be significant.","Critical minerals for the EV and battery supply chain will be hit by latest US tariffs on Chinese imports At the start of July, it was announced that the US has started the process to impose tariffs on a further US $200 billion of Chinese imports. The Office of the United States Trade Representative (USTR) published a list of products […]",[669],{"slug":571,"name":572,"content":670},{"job_title":574,"image":671,"bio":577,"linkedin":578},{"filename":576},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"99383785-5403-43dd-b711-ccae2e124cb3\", \"id\": \"\"}-->","article",[675,678,681,684,687],{"slug":676,"name":677},"batteries","Batteries",{"slug":679,"name":680},"critical-minerals","Critical Minerals",{"slug":682,"name":683},"ev","EV",{"slug":685,"name":686},"geopolitics","Geopolitics",{"slug":688,"name":420},"rare-earths","private",{"id":49,"alt":691,"name":691,"focus":691,"title":691,"source":691,"filename":692,"copyright":691,"fieldtype":693,"meta_data":694,"is_external_url":51},"","https://a.storyblok.com/f/287943243085208/944c94809f/bm-screen-shot-2018-08-06-at-143449.png","asset",{"alt":691,"title":691,"source":691,"copyright":691},"Aug 06, 2018","6th August 2018",[],[],1792773944242]