The US Commerce Department has imposed preliminary anti-dumping duties of 93.5% on anode-grade graphite imported from China after concluding the material, a key component of electric-vehicle batteries, is being sold below fair market value. The order covers imports valued at about $347 million last year and applies to graphite with at least 90% carbon content, whether natural, synthetic or blended. It is paired with a parallel countervailing duty investigation that produced a provisional 6.55% subsidy rate for most Chinese suppliers and punitive rates exceeding 700% for two companies, lifting the effective levy to roughly 160%, according to a US producers’ group. Shares of non-Chinese graphite producers such as Canada’s Nouveau Monde Graphite and Northern Graphite jumped on the news, while battery makers and automakers that rely on Chinese graphite, including Tesla and its cell partner Panasonic, warned the tariff could raise costs across the electric-vehicle supply chain. The case was prompted by a December petition from the American Active Anode Material Producers coalition. The Commerce Department and the US International Trade Commission are due to issue final anti-dumping and subsidy determinations by 5 December 2025.