U.S.: tariffs to disrupt transportation fuels and electric vehicles announced

On February 1, 2025, the U.S. government announced new tariffs to reduce imports and support domestic production. These measures are expected to significantly impact the U.S. transportation and energy sectors, particularly electric vehicles (EVs), gasoline, diesel, and biofuels industries. While the announced tariffs will initially impact key trading partners, including Mexico, Canada, and China, their effects will likely reach the U.S. economy as well, particularly in the fuel markets and vehicle manufacturing sectors.

In the EV sector, where China dominates more than 70% of global lithium-ion battery cell production and the U.S. has limited manufacturing capacity, tariffs on Chinese batteries could raise costs for