Similar investments have been announced in other countries that share free trade agreements with the United States, including South Korea and Mexico. At least eight Chinese battery makers have announced new investments in the North African kingdom since President Joe Biden signed the Inflation Reduction Act, the $430 billion U.S. law designed to fight climate change, according to an Associated Press tally. The United States and European Union have both imposed major new tariffs on Chinese vehicle imports since May. The Biden administration says the rules pave the way for billions in investment in EV manufacturing in the United States. “There is not going to be a lithium ion battery supply chain that does not have Chinese influence for a long time,” Berry said.
