Addressing Tariffs and Trade in Energy Storage Projects
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6 Frequently Asked Questions about “Foreign trade energy storage battery development”
How much battery material does China Import & Export?
China imported almost 12 million short tons of raw and processed battery minerals, accounting for 44% of interregional trade, and exported almost 11 million short tons of battery materials, packs, and components, or 58% of interregional trade in 2023, according to regional UN Comtrade data.
Which country trades the most batteries in the world?
Data source: United Nations Statistics Division, UN Comtrade Note: Excludes trade within regions. China has a major role at each stage of the global battery supply chain and dominates interregional trade of minerals.
Which international trade issues will remain a concern for energy storage projects?
Two major areas of international trade that will remain causes of concern for energy storage projects are the application of tariffs and supply chain integrity.
Will China impose tariffs on lithium-ion EV batteries?
An interesting issue will be the imposition of tariffs. There are existing tariffs pursuant to Section 301 of the Trade Act of 1974 on some Chinese-origin lithium-ion EV batteries and non-lithium-ion battery parts, which were increased to 25% in September 2024.
Are storage batteries a priority for border detentions for forced labor evaluation?
Storage batteries have been indicated as a priority for border detentions for forced labor evaluation, and we expect to continue to see those goods identified as a concern.
How can battery storage help balancing supply changes?
The ever-increasing demand for electricity can be met while balancing supply changes with the use of robust energy storage devices. Battery storage can help with frequency stability and control for short-term needs, and they can help with energy management or reserves for long-term needs.