On the morning of the 17th, shares of secondary battery-related companies are declining. The sentiment of investors appears to have weakened after news surfaced that President-elect Donald Trump's transition team may eliminate subsidies for electric vehicle batteries.
As of 10:27 a.m. on that day, LG Energy Solution is trading at 386,000 won, down 12,000 won (3.02%) from the previous trading day on the securities market. At the same time, Samsung SDI is also down 12,000 won (4.56%) to 251,000 won, and POSCO Future M is trading at 156,600 won, down 9,700 won (5.83%).
The situation in the KOSDAQ market is similar. Ecopro BM is trading at 121,100 won, down 7,100 won (5.54%) from the previous day. Ecopro is also down more than 4%.
The overall sentiment for investments in secondary battery stocks appears to have deteriorated following reports that Trump may eliminate subsidies for electric vehicles and impose tariffs on battery materials.
Reuters reported on the 16th (local time) that it confirmed internal documents of Trump's transition team, stating, 'The transition team is recommending reducing support for electric vehicles and charging stations while strengthening measures to block Chinese-made cars, parts, and battery materials.'
Reuters also reported, 'The transition team is recommending imposing tariffs on all battery materials worldwide to encourage domestic production while providing exceptions through individual negotiations with allied countries.'