US-China , Trade War Escalates, , Potentially Driving Up EV Prices.<br />Prices for electric vehicles (EVs) in the United States may surge higher as a result of China's new export controls <br />on graphite, an essential material for EV batteries.<br />On October 20, China announced its <br />new controls on export permits for <br />certain products containing graphite.<br />'Newsweek' reports that the move highlights China's push <br />to safeguard its manufacturing supremacy, currently <br />controlling 90% of the world's graphite production.<br />Between January and September, the U.S. received an estimated $745 million in China-sourced graphite, <br />making it the top importer of the commodity.<br />The new controls are being put in place <br />as the U.S. clamps down on the export of <br />high-performance integrated chips to China. .<br />The U.S. reportedly intends to stifle <br />Beijing's development of AI and <br />semiconductor technologies.<br />'Newsweek' reports that the U.S. measures are part of <br />a broader plan to minimize potential threats to national <br />security posed by China's rapid technological advances. .<br />Both China's new export controls and America's <br />measures on imports are part of a larger <br />geopolitical battle over technologies and resources.<br />This action could set [prices] <br />on an upward trajectory internationally, <br />while keeping domestic prices low <br />for Chinese battery producers, Tom Kavanagh, head of battery <br />metals at Argus, via Reuters.<br />'Newsweek' reports that China's new export controls <br />have raised the stakes for automakers and battery <br />manufacturers, who now need to reevaluate supply chains.
