US lowers tariffs on Chinese electric vehicle batteries to 73.4%

The US tariff on Chinese electric vehicle power batteries has been reduced to 73.4%, and the tariff on non-automotive lithium batteries, including energy storage batteries, has dropped to 40.9%, both of which have dropped by 115%. As for energy storage batteries, although Chinese products exported to the US still face a 40.9% tariff, China has a leading advantage in lithium iron phosphate batteries used in the energy storage industry.