CNN —
The Trump administration is imposing a substantial tariff on a raw material that is critical for electric vehicle batteries, which could significantly raise the cost of building EVs in the United States.
The Commerce Department announced a 93.5% tariff on Chinese graphite Thursday, accusing the country of “dumping” the raw material in the United States below the market price. The decision was hailed by domestic graphite producers, who say Chinese producers dominate the market and keep American companies from getting off the ground.
Raw graphite is relatively cheap, costing less than
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