Commerce Department imposes 93.5% duty on China graphite, Bloomberg says

The Commerce Department imposed preliminary anti-dumping duties of 93.5% on Chinese imports of graphite, a main battery component, Tope Alake, Gabrielle Coppola and Annie Lee of Bloomberg report. The tariffs will add to existing rates making the effective duty on graphite 160%, trade group American Active Anode Material Producers, which asked for an investigation into the Chinese companies over anti-dumping, told Bloomberg. Publicly traded companies in the auto space include Ford (F), General Motors (GM), Honda (HMC), Mercedes-Benz (MBGYY), Nissan (NSANY), Stellantis (STLA), Tesla (TSLA), Toyota (TM), Volkswagen (VWAGY), and Rivian (RIVN).