NOVONIX (ASX:NVX) welcomed a decision by the US Department of Commerce to impose up to 721% of countervailing duty tariffs on synthetic and natural graphite anode material from China, according to a Wednesday release.
Chief Executive, Michael O'Kronley, said that the firm was encouraged by the decision.
The department is also conducting its anti-dumping duty investigation.
The American Active Anode Material Producers, which includes four members of the North American Graphite Alliance, including NOVONIX, earlier filed a trade case related to the matter.
The firm plans its Riverside facility to become the first large-scale production site dedicated to high-performance synthetic graphite for the battery sector in North America.
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