The Impact Of The Trade War On The New Energy Industry

- Jul 19, 2019-

The US Trade Representative Office (USTR) announced that from 00:01 am on May 10 (12:01 pm Beijing time), the tariff on China's $200 billion commodity was raised from 10% to 25%. The Press Office of the Ministry of Commerce subsequently issued a message saying: "The US has raised the tariff of 200 billion US dollars of Chinese exports to the United States from 10% to 25%. The Chinese side deeply regrets that it will have to take necessary countermeasures. The eleventh round The China-US high-level economic and trade consultation is underway. It is hoped that the US and the Chinese side will work together and work together to resolve existing problems through cooperation and consultation."

The SMM New Energy Research Team has compiled relevant items in the new energy industry from the list of tariffed goods, as follows:


According to SMM, the impact of the US retaliatory tariff on China's 200 billion US dollars in imported goods is not obvious for the cobalt-lithium raw material end.

In terms of cobalt, China's cobalt raw materials are highly dependent on imports, and smelting and primary processed products are mainly exported to Japan and South Korea. The amount of cobalt and cobalt powder exported to the United States can also be adjusted to supply to overseas factories and to change exporting countries. Means to respond.

In terms of lithium, we observe customs data for January 2019, 2018. The total export volume of lithium carbonate in the past 15 months was 15,941 tons, while less than 6% was exported to the United States. The total export volume of lithium hydroxide is 37,295 tons, of which less than 1% is exported to the United States. In fact, the lithium salt used in the US market basically comes from foreign companies such as Albemarle, SQM and FMC, and rarely needs to import Chinese lithium salt.

In terms of power battery, the domestic material source of the upstream battery plant is currently highly localized. At the same time, the industry chain will choose to build a battery with the vehicle to reduce costs. The export volume is limited.

As far as the whole vehicle is concerned, China, Japan, South Korea and Europe and other countries and regions are among the best in terms of the development of new energy vehicles in the world. Tesla is one of the best in the US auto companies, and there are fewer Chinese companies in the main supply chain system. The addition of retaliatory tariffs has limited impact on the development of new energy vehicles in China, and the establishment of Tesla in China will further weaken the impact of tariffs.