China proposes new export restrictions on technologies crucial for EV batteries and renewable energy, raising concerns about global supply chains and trade tensions.
The world may soon face a new wave of Chinese export limits as the country contemplates expanding restrictions on critical mineral technologies. The proposed curbs coincide with escalating trade tensions with the United States and a shift in the global energy landscape, particularly with the impending arrival of a new US president.
China's Ministry of Commerce has indicated its intention to tighten export controls on various technologies used in producing battery-grade lithium and other essential components. These technologies, encompassing direct lithium extraction and specialized cathode manufacturing processes, are crucial for electric vehicle (EV) batteries and renewable energy systems. Public feedback on the proposals will be accepted until February 1, 2025.China's dominance in determining the energy transition relies on its refining and processing control. The country holds sway over the supply chain of numerous key minerals, including lithium, gallium, and rare earth elements. The proposed restrictions echo measures implemented in December 2023, which prohibited the export of technology for rare earth element separation. This development could hinder the overseas expansion of Chinese companies like CATL and Gotion, which leverage advanced technologies to maintain their competitive advantage.China's growing control over critical minerals has repeatedly raised concerns in Washington and other Western capitals. The Biden administration initiated a trade investigation into Chinese-made semiconductors before the inauguration of President-elect Donald Trump, who suggested increasing tariffs on Chinese goods by 10% during his campaign. The potential restrictions could have a cascading effect on global markets, escalating manufacturers' costs and impeding renewable energy adoption
CHINA TRADE CRITICAL MINERALS EXPORT RESTRICTIONS ENERGY TRANSITION
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