US sets tariffs solar panels import from China

Media

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 

0 Comments

Login

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


BASF extends innovative foam solutions portfolio with ecovio EA

LUDWIGSHAFEN GERMANY: BASF SE is expanding its range of high performance foam products with the innovative, certified compostable particle foam ecovio ...

Read more
BIOX, World Energy JV to acquire biodiesel facility in US

TORONTO/BOSTON, US: BIOX Corporation and World Energy have formed a 50/50 joint venture to acquire and operate a 90 million gallon (341 million litres ...

Read more
BASF launches new polyphthalamide portfolio for auto, electronics markets

LUDWIGSHAFEN GERMANY: BASF SE is expanding its range of partially aromatic polyamides and launching a new polyphthalamide (PPA) portfolio on the marke ...

Read more
Evonik acquires biotechnology company in Canada

ESSEN, GERMANY: Evonik Industries AG has signed an asset purchase agreement to acquire all the business and assets of Transferra Nanosciences Inc, for ...

Read more
BASF, CRCP licenses soil wetting technologies in Australia

MELBOURNE, AUSTRALIA: BASF has licensed new soil wetting technologies co-developed with the Cooperative Research Centre for Polymers (CRCP) to help Au ...

Read more
Brenntag to acquire South African chemicals distributor Warren Chem

MULHEIM, GERMANY: Brenntag AG has signed an agreement to acquire Warren Chem Pty Ltd, a specialty chemicals distributor focusing on the pharma and foo ...

Read more
Copyright © 2016. Kimberlite Softwares Pvt. Ltd., India. All rights reserved.
World of Chemicals.