From ESS News
In one of the biggest shakeups in global trade in history, President Donald Trump has declared sweeping levies on US trading partners around the world. The new US import tariffs, including a 10% baseline on all goods and higher rates for key trading partners, such as China, Malaysia, and Vietnam, are expected to have a significant impact on the US battery energy storage industry.
In addition to the universal 10%, which is set to be implemented on April 5, the Trump Administration has named 60 countries each with a specific reciprocal tariff rate. These include 34% for China, 26% for India, 25% for South Korea, 24% for Japan, 20% for the European Union, and 10% for the UK. The reciprocal tariffs will come into force on April 9.
Batteries are currently the only major cleantech sector where imports are predominantly sourced from China. As a result, the effects of tariffs on batteries are expected to be much more significant compared to other technologies.
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