US Department of Commerce increases duties on Chinese battery-grade graphite to 160% related to Novonix (NVX)

US Department of Commerce increases duties on Chinese battery-grade graphite to 160% related to Novonix (NVX)

The decision by the US Department of Commerce to raise duties on Chinese battery-grade graphite to 160% is a significant escalation in trade tensions that could impact supply chains and pricing in the electric vehicle sector. This move not only signals a tougher stance on trade with China but may incentivize domestic production, affecting market dynamics for companies like Novonix (NVX) and potentially boosting prices in related commodities. Traders should watch for impacts on both equity markets and the broader commodities landscape as this unfolds.