China limits graphite exports, escalating tech war with US and threatening EV makers
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China is restricting exports of graphite, a key mineral for electric vehicle batteries, citing national security.
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The move comes after the US imposed limits on semiconductor exports to China, escalating the tech war.
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China dominates global graphite production and processing, so the export curbs could impact EV makers worldwide.
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Graphite demand is soaring, with EV sales up 55% last year and expected to rise further.
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The export limits add to pressure on China over trade practices amid its tech war with the US and allies.