Tariffs on critical minerals and their role in the electric vehicle value chain

The shift towards clean energy technologies and electric vehicles (EVs) is gaining momentum as the world seeks to combat climate change. This transition requires increased use of critical minerals, such as cobalt, graphite and lithium, which are essential components of EV batteries. However, the use of escalating tariffs in EV production chains could be a factor preventing developing economies from diversifying their exports and moving up the value chain.