US imposes new tariffs on solar panel imports from Southeast Asian nations to protect US manufacturers

From Investing.com: 2024-11-29 14:25:35

U.S. trade officials imposed new tariffs on solar panel imports from four Southeast Asian nations due to complaints of unfair pricing from American manufacturers. Duties range from 21.31% to 271.2%, with Jinko Solar and Trina Solar being hit the hardest. Final determinations are expected in 2025, aiming to protect U.S. solar manufacturing investments.

Most solar panels in the U.S. come from the four targeted nations, prompting the Biden administration to address China’s growing dominance in clean energy manufacturing. These actions are part of Biden’s Inflation Reduction Act, which offers incentives for local production. President-elect Donald Trump plans to impose tariffs on various sectors to protect American workers.

Dumping, where products are sold below production cost, is at the core of the issue, with Chinese companies accused of causing global price collapses. The American Alliance for Solar Manufacturing Trade Committee aims to curb these unfair practices and safeguard U.S. solar manufacturing investments. Jinko and Trina representatives were not available for comment.



Read more at Investing.com: US sets tariffs for solar panels from Southeast Asian nations By Reuters