US-Sweden Agreement Boosts Electric Battery Trade
A new bilateral trade agreement between the United States and Sweden has reduced tariffs on electric storage batteries (HS Code: 8507), facilitating increased exports of Swedish battery technology to the US market.
2023-10-15
Impact: This agreement is expected to increase trade volume by 15% annually, benefiting Swedish manufacturers and US clean energy sectors.
Swedish Battery Giant Expands US Operations
Northvolt, a leading Swedish battery manufacturer, announced a new production facility in the US to meet growing demand for electric storage batteries and components.
2023-09-22
Impact: This expansion is likely to strengthen supply chains and reduce lead times for US companies, potentially increasing imports of battery separators and parts from Sweden.
US Imposes New Quality Standards on Battery Imports
The US introduced stricter quality and safety standards for imported electric storage batteries, affecting Swedish exporters who must now comply with additional testing requirements.
2023-08-30
Impact: Short-term trade disruptions are possible as Swedish firms adapt, though long-term trade stability is expected once compliance is achieved.
