Imports of Chinese Lithium-ion batteries Skyrocketing into the U.S.

Biden Administration Oversaw a More Than 500% Increase in Chinese Lithium Battery Imports Since Taking Office

Since President Joe Biden took office, imports of Chinese lithium batteries have seen a drastic increase of over 500%. This surge in imports has come after President Biden signed the Inflation Reduction Act into law. The bill was intended to enhance America’s ability to compete with China in the battery industry, a goal that seems to have backfired.

The Biden administration’s flagship climate bill included various subsidies to support the transition to a green energy economy. However, despite these efforts, China’s dominance in the global supply of rare earth materials has resulted in a significant increase in imports of Chinese electric vehicle components and lithium-ion batteries.

These components are crucial for the production of electric vehicles and other green energy technologies.

So, another policy of Biden has gone nowhere.

Read about it...