From alloys to batteries: how US tariffs are reshaping the cobalt value chain

On April 2nd, the United States (US) imposed tariffs ranging from 10% to 50% on its global trading partners. Following this, there has been an escalation in tariffs to 125% for US imports to China and 145% (245% on some products when including previous tariffs) for Chinese imports to the US. For other trading partners, the US has proposed a 90-day exemption period allowing some time for negotiations. However, future tariff rates and their application continue to remain uncertain. Despite exemptions for direct imports of foreign cobalt products, tariffs on downstream products will still lead to increased costs for US companies and reduced demand for domestic products such as smartphones. Find out more in our value chain analysis.