U.S. waives tariffs on Japanese aluminium for Tesla battery cells

WASHINGTON (Reuters) - The U.S.

Reuters June 25, 2019 01:06:43 IST
U.S. waives tariffs on Japanese aluminium for Tesla battery cells

US waives tariffs on Japanese aluminium for Tesla battery cells

WASHINGTON (Reuters) - The U.S. Commerce Department has agreed to Tesla Inc's request to waive 10 percent tariffs on imported aluminium from Japan used in the manufacture of battery cells at Tesla's Nevada Gigafactory, government documents show.

The Palo Alto, California-based company made the request in April and said the aluminium is produced by Nippon Light Metal Co Ltd and was seeking a tariff exclusion for 10 million kilograms annually.

The Commerce Department said in a document dated June 5 and posted in recent days that the aluminium "is not produced in the United States in a sufficient and reasonably available amount or of a satisfactory quality." The waiver is good for one year. Tesla did not immediately comment.

(Reporting by David Shepardson; Editing by Chizu Nomiyama)

This story has not been edited by Firstpost staff and is generated by auto-feed.

Updated Date:

TAGS:

Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.

also read

Government aid, stock gains push U.S. wealth to pre-pandemic levels, Fed says
Business

Government aid, stock gains push U.S. wealth to pre-pandemic levels, Fed says

By Howard Schneider WASHINGTON (Reuters) - A rebounding stock market and massive federal aid payments pushed the net worth of U.S. households back to pre-coronavirus levels in the second quarter, the Federal Reserve reported on Monday, with savings accounts and equity portfolios both rising sharply despite the pandemic

Traders shun risky assets as new lockdowns loom
Business

Traders shun risky assets as new lockdowns loom

By Rodrigo Campos NEW YORK (Reuters) - Stocks across the world hit their lowest in seven weeks and other risk assets sold off on Monday on concerns over renewed lockdown measures in Europe and Britain, as well as the United States' inability to agree on fiscal stimulus that would support millions of unemployed. Oil prices fell nearly 5%, the dollar rallied and an index of emerging market currencies fell by the most in six months. The MSCI world equity index , which tracks shares in 49 countries, touched its lowest since Aug.

Traders shun risky assets as new lockdowns loom; stocks, oil tumble
Business

Traders shun risky assets as new lockdowns loom; stocks, oil tumble

By Rodrigo Campos NEW YORK (Reuters) - Stocks across the world hit their lowest in seven weeks and other risk assets also sold off on Monday on concerns over renewed lockdown measures in Europe and Britain, as well as the United States' inability to agree on fiscal stimulus that would support millions of unemployed. Oil prices fell more than 3%, the dollar rose against a basket of peers and an index of emerging market currencies fell by the most in six months. The MSCI world equity index , which tracks shares in 49 countries, ended at its lowest since Aug