Despite the recent tariff agreement between China and the United States, the ongoing trade dispute continues to create global uncertainties and may affect tax revenue and employment in the Lithium Triangle of Argentina, Chile and Bolivia. However, it also presents opportunities, specialists told Platts, part of S&P Global Commodity Insights.
Manuel Viera Flores, president of the Chilean Mining Chamber, said in a recent interview that although some minerals are currently tariff-free, “We must be cautious about what may come and be prepared for it, as any tax increase is negative for the development of various economic activities.”
He mentioned that demand for lithium, which is essential for electric vehicle battery production, may decline due to the current weak price trend and availability of substitutes like sodium and nickel. “There are more than 60 lithium projects in the world that will increase supply and tariff measures have a significant impact, as there will be lower tax revenue,” he said.
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