{"id":2182244,"date":"2024-02-20T16:57:12","date_gmt":"2024-02-20T21:57:12","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/joe-bidens-signature-climate-bill-has-been-a-boon-to-chinas-battery-market\/"},"modified":"2024-02-20T17:00:03","modified_gmt":"2024-02-20T22:00:03","slug":"joe-bidens-signature-climate-bill-has-been-a-boon-to-chinas-battery-market","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/joe-bidens-signature-climate-bill-has-been-a-boon-to-chinas-battery-market\/","title":{"rendered":"Biden&#8217;s Climate Bill Boosts China&#8217;s Battery Market"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">14<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fjoe-bidens-signature-climate-bill-has-been-a-boon-to-chinas-battery-market%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2182244&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>President \u200bJoe Biden\u2019s Signature Climate Bill Boosts China\u2019s Battery Market<\/h2>\n<p><span style=\"font-weight: 400\">President Joe Biden\u2019s signature climate bill, the <a href=\"https:\/\/www.dailywire.com\/topic\/inflation-reduction-act\" target=\"_blank\" rel=\"noopener\">Inflation Reduction Act<\/a> \u200b (IRA), has been a game-changer for China\u2019s battery market.<\/span><\/p>\n<p><span style=\"font-weight: 400\">In August 2022, Biden officially signed the IRA into law. \u200dThis legislation introduced a range of \u200cgreen\u200c energy subsidies aimed at shifting the United\u2063 States away from\u200b fossil fuels and,\u2062 as \u200bBiden himself\u2063 stated before signing\u200d the bill, &#8220;competing with China.&#8221;<\/span><\/p>\n<p><span style=\"font-weight: 400\">Since the implementation of the \u2063IRA, the import of Chinese components for electric vehicles in the U.S. has skyrocketed, according to a review of government data \u200cby \u2062 <a href=\"https:\/\/freebeacon.com\/energy\/bidens-inflation-reduction-act-meant-to-counter-china-prompted-explosion-in-chinese-battery-imports\/\" target=\"_blank\" rel=\"noopener\">The Washington Free Beacon<\/a>. These findings raise doubts about whether the IRA\u200d has achieved \u2062one\u200c of \u200dits key objectives.<\/span><\/p>\n<p><span style=\"font-weight: 400\">China is a\u2062 major supplier of rare earth minerals used\u200c in <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/after-killing-us-oil-projects-biden-begs-russia-saudi-arabia-for-help-fighting-rising-gas-prices\/\" title=\"After Killing US Oil Projects, Biden Begs Russia, Saudi Arabia For Help Fighting Rising Gas Prices\">green energy technologies<\/a> like solar panels, electric cars, and wind turbines. While imports of components utilizing \u200bthese\u2063 minerals have been increasing during Biden&#8217;s presidency, the\u200c surge became even more pronounced after the IRA was put \u200cinto effect.<\/span><\/p>\n<p><span style=\"font-weight: 400\">From January 2021, when Biden \u2063took office, to July 2022, Chinese lithium-ion battery imports to the \u2062U.S. averaged $473 million per month. However, \u200cthe \u200dmonth after Biden\u200d signed the\u2064 IRA into law, these imports soared\u200b to an average of over $1 billion per month, as reported by the \u200cFree Beacon.<\/span><\/p>\n<p><span style=\"font-weight: 400\">In addition to \u2064batteries, China is \u200dalso reaping the benefits of \u2064the IRA through mining companies in Africa.<\/span><\/p>\n<blockquote>\n<h3>&#8220;Nearly 70 percent\u200d of cobalt\u200b is produced in Africa, mainly in \u200bthe Congo,&#8221;<\/h3>\n<p><span style=\"font-weight: 400\">explained\u2062 James Madison Institute\u2063 senior vice president Sal Nuzzo to the\u2063 Free Beacon.\u2064 <\/span><\/p>\n<h3>&#8220;So you can put the regulation in \u2062place \u2014 it\u2019s got to\u200c be \u200dsourced from\u2063 a friendly country. But who owns the facility that the materials are coming \u2062out of?&#8221;<\/h3>\n<\/blockquote>\n<p><b><a href=\"https:\/\/onelink.to\/dwapp\" target=\"_blank\" rel=\"noopener noreferrer\" aria-describedby=\"sk-tooltip-9096\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/onelink.to\/dwapp&#038;source=gmail&#038;ust=1700760801843000&#038;usg=AOvVaw2PQrVSrJfhxNb4LcARqniG\">CLICK HERE TO GET THE DAILYWIRE+ APP<\/a><\/b><\/p>\n<p><span style=\"font-weight: 400\">Apart from \u2062concerns about its \u200bimpact \u2062on \u200bChina, the IRA has recently faced criticism for its connection to sticky, high inflation in the U.S., as reported by the <\/span><a href=\"https:\/\/www.ft.com\/content\/a74b625c-0a49-43e7-a982-5584df64f6c7\"><span style=\"font-weight: 400\">Financial \u2062Times<\/span><\/a><span style=\"font-weight: 400\">. Georgia Governor Brian Kemp\u2062 has \u2063blamed\u2063 the \u200cIRA for damaging his state&#8217;s economy by rapidly driving\u2064 up prices.<\/span><\/p>\n<blockquote>\n<h3>&#8220;A lot of what the IRA has \u200bdone, besides throwing money at something that was \u2062coming \u2064anyway, is also\u2062 heated the market up and driven costs to go up,&#8221;<\/h3>\n<p><span style=\"font-weight: 400\">stated Kemp in\u200b an interview with the Financial Times. <\/span><\/p>\n<h3>&#8220;It\u2019s really tried to manipulate \u2063the market, versus the market\u200c moving\u2063 in \u200bthat direction.&#8221;<\/h3>\n<\/blockquote>\n<p><span style=\"font-weight: 400\">Despite\u200c Georgia receiving approximately $15 billion in green energy\u2062 project investments, primarily in manufacturing, as a result\u2064 of the IRA, polls indicate that\u200d Biden is struggling\u2063 to win over American voters regarding his handling\u2063 of the economy. According to RealClearPolitics&#8217; <a href=\"https:\/\/www.realclearpolitics.com\/epolls\/other\/sotu\/PresidentBidenApprovalIssues.html\" target=\"_blank\" rel=\"noopener\">polling average<\/a>, the majority \u200bof Americans disapprove of \u200dBiden&#8217;s\u2062 economic management, with a disapproval rating of 56.8% compared to an approval rating of 39.4%.<\/span><\/p>\n<p> <\/p>\n<h2> What are the \u200dconcerns regarding the influx of Chinese battery imports and their impact\u2062 on U.S. national\u2063 security and\u2062 economic independence?<\/h2>\n<p><span>  \u2062Wo and two together and\u200c understand\u200c that if we&#8217;re \u200dgoing to be expanding our use of batteries, \u200cwe&#8217;re going to be dependent on \u2064that [cobalt] \u2064 supply from \u2063Africa, \u2063and the Chinese are leveraging that.&#8221;<\/h3>\n<\/blockquote>\n<p><span style=\"font-weight: 400\">The influx of Chinese battery imports has raised\u200c concerns about U.S. \u200bnational security and the dependence on foreign suppliers. As the Biden administration seeks \u200bto transition to a greener economy, it risks strengthening China&#8217;s position as a dominant player in the battery market.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The\u2061 Biden administration&#8217;s focus on climate change and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/landmark-climate-study-says-melting-arctic-wont-lead-to-more-severe-cold-weather\/\" title=\"Landmark Climate Study Says Melting Arctic Won\u2019t Lead to More Severe Cold Weather\">reducing greenhouse gas emissions<\/a>\u2063 is commendable. However, the\u2063 unintended consequences of legislation such as the IRA must \u200dbe carefully considered. While the aim of competing with China and \u200cpromoting green energy is crucial, it should not come at the cost of compromising U.S. national security and economic independence.<\/span><\/p>\n<p><span style=\"font-weight: 400\">To address these concerns, \u2064the U.S. government should prioritize domestic production and \u2063invest in research and development to reduce dependence on foreign battery imports. By promoting the growth of the\u2063 U.S. battery industry, the government can \u200b<a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/taiwan-vows-to-protect-its-firms-interests-at-u-s-led-chip-4-group\/\" title=\"Taiwan vows to protect its firms\u2019 interests at U.S.-led \u2018Chip 4\u2019 group\">ensure supply chain resilience<\/a> and bolster national security.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Collaboration with allies in Europe\u200b and other countries with advanced battery technology can \u200calso enhance the collective ability to compete with China. By pooling resources and expertise, these nations can develop \u200binnovative and sustainable battery technologies that can challenge China&#8217;s dominance in the market.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Furthermore, establishing stringent regulations and standards \u2063for the sourcing of minerals in green energy technologies can help prevent environmental degradation and \u2062human rights abuses associated\u2063 with mining operations\u2064 in regions like\u200b Africa. By holding\u2063 mining \u200ccompanies accountable \u200cfor their\u200d practices, the U.S. and its allies can ensure that the transition to a green \u2063economy is not at the expense of vulnerable communities and the planet.<\/span><\/p>\n<p><span style=\"font-weight: 400\">President Biden&#8217;s signature\u2063 climate bill, the IRA, \u2062has undoubtedly boosted China&#8217;s battery market. While the intent\u2064 was to compete with China \u200dand <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/amtrak-drops-7-3-billion-on-eco-friendly-trains\/\" title=\"Amtrak Drops .3 Billion On Eco-Friendly Trains\">promote green energy<\/a>, the unintended consequences of increased dependence on Chinese battery imports raise concerns \u200cabout national security and economic\u200d independence. It \u2062is crucial for the U.S. government to prioritize domestic production, invest in\u200b research and development, and collaborate with\u2063 allies to develop innovative\u200c and sustainable battery technologies. Additionally, stringent \u200cregulations and standards must be established to ensure responsible \u200bsourcing \u200cof minerals in green energy technologies. Only by addressing these issues can the\u2064 U.S. achieve its climate goals while \u2063safeguarding its national\u200c interests.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Signed the bill, &#8220;create millions of jobs in the clean energy sector.&#8221; However, the unintended consequence of the IRA has been a surge in China&#8217;s battery market, as the subsidies have incentivized American companies to outsource battery production to China. This has raised concerns about the US becoming dependent on China for critical energy infrastructure<\/p>\n","protected":false},"author":70,"featured_media":2182245,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/dw-wp-production.imgix.net\/2024\/02\/Joe-Biden-3.jpg","fifu_image_alt":"","footnotes":""},"categories":[541],"tags":[],"class_list":["post-2182244","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-daily-wire"],"fifu_image_url":"https:\/\/dw-wp-production.imgix.net\/2024\/02\/Joe-Biden-3.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2182244","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/70"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2182244"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2182244\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2182245"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2182244"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2182244"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2182244"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}