US sets tariffs on solar panels import from China

5:28 AM, 12th October 2012
US sets tariffs on solar panels import from China

WASHINGTON, US: The United States upheld steep tariffs on Chinese solar panels finding that improper trade practices have undermined an American solar industry that the largest US manufacturer is in the midst of collapse. In one of the largest trade cases the US has pursued against the Asian superpower, the Commerce Department said China’s government is subsidizing companies that are flooding the US market with low-cost products (dumping). To counteract those price cuts, the US government imposed tariffs ranging from 18 per cent to nearly 250 per cent.

For some Chinese companies, those tariffs are lower than preliminary tariffs imposed in May. Still, another set of duties dealing with improper subsidies was increased dramatically. While the initial ruling levied anti-subsidy fees ranging from 2.9 per cent to 4.7 per cent, the final ruling issued sets those fees at 14.8 per cent to 16 per cent.

When the two penalties are combined, most companies will face duties similar to those imposed earlier in the year. In a blow to US companies requesting the tariffs, the government declined to expand the scope of the case to cover products partially produced outside of China.

A group of US companies led by Oregon-based SolarWorld, asked the government to penalize China, claiming unfair trade policies are delivering a one-two punch to the US solar industry. First, the companies argue, China is improperly subsidizing its own companies to prop them up. Next, Chinese manufacturers are dumping their products on the US market below cost, absorbing a short-term loss in hopes of putting their US competitors out of business.

© The Economic Times News 



Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News

Mitsui increases global polypropylene production

TOKYO, JAPAN: Mitsui Chemicals announces the increase of automotive use polypropylene (PP) production at three strategic sites in the United States, M ...

Read more
Cytec to sell pressure sensitive adhesives business to Henkel

WOODLAND PARK, US: Cytec Industries has reached a definitive agreement to sell its pressure sensitive adhesives (PSA) product line to Henkel for total ...

Read more
Merck, Canadian Solar provide high-efficient solar cells

DARMSTADT, GERMANY: Merck and Canadian Solar Inc are cooperating very closely in research & development (R&D) for many years to provide high-e ...

Read more
Anglo American Platinum, Ballard JV for fuel cells in South Africa

VANCOUVER, CANADA: The world’s leading primary producer of platinum group metals, Anglo American Platinum Limited and Ballard Power Systems are ...

Read more
BHP Billiton appoints Pat Davies as non-executive Director

MELBOURNE, AUSTRALIA: Pat Davies is appointed as an independent non-executive Director to the BHP Billiton Board, effective from 1 June 2012. Davies&r ...

Read more
Yara elects Reitan as new Chairman, approves $1.2 per share dividend

OSLO, NORWAY: Yara International elected Bernt Reitan as the new Chairperson. Bernt Reitan, Elisabeth Harstad and Hilde Merete Aasheim were re-elected ...

Read more
Copyright © 2014. Kimberlite Softwares Pvt. Ltd., India. All rights reserved.
World of Chemicals.