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


Blueberries don’t improve night vision, finds new study

WASHINGTON DC, US: Blueberries are not only known for promoting heart health, better memory and digestion, but also for improving night vision. Scient ...

Read more
Lubrizol acquires Warwick Chemicals

CLEVELAND, US: The Lubrizol Corporation has signed an agreement to purchase Warwick Chemicals, a leading global developer, producer and supplier of st ...

Read more
Promising graphene electrodes for high-speed, high-capacity RAM

LINCOLN, US: The improvements in random access memory that have driven many advances of the digital age owe much to the innovative application of phys ...

Read more
Onex to acquire SIG Combibloc Group

LONDON, UK: Onex Corporation has agreed to acquire SIG Combibloc Group AG for up to €3.75 billion ($4.66 billion), with an additional amount of u ...

Read more
Soitec, SK Innovation collaborate for semiconductor materials

SEOUL, SOUTH KOREA/BERNIN, FRANCE: Soitec, a world leader in generating and manufacturing revolutionary semiconductor materials for the electronics an ...

Read more
IFF opens flavors facilities in Indonesia, Chile

NEW YORK, US: International Flavors & Fragrances Inc (IFF), a leading global creator of flavors and fragrances for consumer products, announced th ...

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