NEWS
U.S. Department of Commerce to Place Up to 721% Tariffs on Chinese Graphite
Wednesday, 21st May at 7:12 pm
CHATTANOOGA, Tenn., May 21, 2025 (GLOBE NEWSWIRE) -- NOVONIX Limited (NASDAQ: NVX, ASX: NVX)) ("NOVONIX" or the "Company"), a leading battery materials and technology company, applauds the preliminary affirmative determination by the U.S. Department of Commerce ("Commerce") to impose up to 721% of countervailing duty ("CVD") tariffs on synthetic and natural graphite anode material from China. In February, the International Trade Commission ("ITC") announced its preliminary determination asserting that China suppressed the establishment of the graphite industry in the United States (and elsewhere) by exporting artificially cheap graphite which is a key component of lithium-ion batteries.1
Michael O'Kronley, CEO of NOVONIX, stated, "We are encouraged by the decision of the Department of Commerce today. This decision is an important step in supporting the United States' goal of developing critical mineral supply domestically for increased energy independence."
Commerce is also conducting its own antidumping duty ("AD") investigation. Any additional AD tariff imposed by Commerce will stack onto the CVD tariffs announced today. The final determinations for both investigations are expected to be issued around December 5, 2025.
This trade case was filed by the American Active Anode Material Producers, which is comprised of four members of the North American Graphite Alliance, ("NAGA"), including NOVONIX, and two additional graphite anode material producers in the United States. NAGA represents American and Canadian producers of battery-grade natural and synthetic graphite, both of which are used to create anode material for lithium-ion batteries.
Wednesday, 21st May at 7:12 pm
CHATTANOOGA, Tenn., May 21, 2025 (GLOBE NEWSWIRE) -- NOVONIX Limited (NASDAQ: NVX, ASX: NVX)) ("NOVONIX" or the "Company"), a leading battery materials and technology company, applauds the preliminary affirmative determination by the U.S. Department of Commerce ("Commerce") to impose up to 721% of countervailing duty ("CVD") tariffs on synthetic and natural graphite anode material from China. In February, the International Trade Commission ("ITC") announced its preliminary determination asserting that China suppressed the establishment of the graphite industry in the United States (and elsewhere) by exporting artificially cheap graphite which is a key component of lithium-ion batteries.1
Michael O'Kronley, CEO of NOVONIX, stated, "We are encouraged by the decision of the Department of Commerce today. This decision is an important step in supporting the United States' goal of developing critical mineral supply domestically for increased energy independence."
Commerce is also conducting its own antidumping duty ("AD") investigation. Any additional AD tariff imposed by Commerce will stack onto the CVD tariffs announced today. The final determinations for both investigations are expected to be issued around December 5, 2025.
This trade case was filed by the American Active Anode Material Producers, which is comprised of four members of the North American Graphite Alliance, ("NAGA"), including NOVONIX, and two additional graphite anode material producers in the United States. NAGA represents American and Canadian producers of battery-grade natural and synthetic graphite, both of which are used to create anode material for lithium-ion batteries.
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