China says Biden plan to shut it out of US battery supply chain violates WTO rules

China accounts for almost two-thirds of the world's lithium processing capacity and 75% of its cobalt capacity, both of which are used in battery manufacturing. Analysts, though, have questioned whether China's position in global battery supply chains warrants the U.S. and EU rhetoric over the potential risks. "There is a lot of hyperbole around this. And I'm not sure the measures the EU or the U.S. are considering match the scale of the risk," said Dan Marks, a research fellow for energy security at the Royal United Services think tank. "What we should be saying is these strategies in Europe and the U.S. are really industrial strategies. They're just about having competitive industries that can survive."