Westwater Resources Inc (NYSE-A:WWR) has noted its support for new tariffs on Chinese electric vehicles (EVs) and critical minerals imported to the US.
“Westwater is 100% focused on producing battery-grade natural graphite anode material in the United States for use in non-Chinese EVs,” executive chairman Terence Cryan said.
“We support actions that continue to aid in establishing a domestic supply chain.”
The White House unveiled the results of a four-year review of such tariffs on Chinese goods on Tuesday.
Westwater highlighted an increased tariff on Chinese EVs from 25% to 100% this year, alongside a new 25% tax on natural graphite due to be brought in by 2026.
“We believe these actions send a strong signal that the US is committed to on-shoring its supply chain for critical minerals,” Cryan added.
“These tariffs are just what the new and critically important US-based natural graphite industry needed to compete with the monopoly that exists in China today and only strengthen Westwater’s value proposition.”