EU imposes anti-dumping duties Chinese solar panels import

EU imposes anti-dumping duties on Chinese solar panels import

9:41 AM, 5th June 2013
EU imposes anti-dumping duties on Chinese solar panels import

BERLIN, GERMANY: The European Union is imposing anti-dumping levies on imports of Chinese solar panels, in a move that could trigger a trade war between two of the world’s largest economies. According to Karel De Gucht, Trade Commissioner, EU, the 27-nation bloc will impose a tariff of about 12 per cent on the import of solar panels, cells and wafers from this week, increasing it to an average of 47 per cent in August unless a settlement is reached with China in the next 60 days.

China, the world’s largest producer of solar panels, is accused by the EU of selling them below-cost (a tactic known as dumping) to corner the market. Its exports of solar panels to Europe totaled €21 billion in 2011. “The cheap Chinese products are flooding the market and threaten to bring down EU manufacturers. It has the potential to destroy an important industry in Europe if we don’t act today,” said De Gucht.

According to EU calculations, a fair sale price for Chinese solar panels should be 88 per cent higher than what they are currently being sold for. The EU Commission, has decided not to slap a punitive 47 per cent tariff on all solar panel imports straight away in an attempt to avoid an escalating trade war, where each side engages in tit-for-tat tariffs and boycotts. Instead it is looking for a negotiated solution: Beijing now has 60 days to reach a settlement with the Commission.

If an agreement can’t be reached, the final anti-dumping tariffs, valid for five years, would require approval by a majority of the EU’s 27 member states six months from now. If the EU governments were to reject the tariffs, the money collected between now and the vote would be returned to China.

© Associated Press News

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