US, Japan reach deal on vital minerals for EV batteries

TOKYO (AP) — Japan and the United States have reached an agreement on trade in critical minerals for electric vehicle batteries. The deal struck Tuesday is expected to make electric vehicles using metals processed in Japan to qualify for tax incentives under President Joe Biden’s Inflation Reduction Act. The two sides have agreed to not impose export duties on trade in lithium, cobalt, manganese, nickel and graphite _ all strategically important minerals. The U.S. and Japan have been seeking to diversify their supply chains in such resources to reduce their dependence on minerals sourced from or processed in China. U.S. Trade Representative said the deal with Japan showed the U.S. commitment to “building resilient and secure supply chains.”