US solar panel makers seek import tariffs to protect new domestic factories

Nichola Groom | Source: Reuters | Posted 04/26/2024

April 24 (Reuters) - Some of the world's largest solar equipment makers on Wednesday asked President Joe Biden's administration to impose tariffs on panels and cells from four Asian countries to protect billions of dollars in investments in U.S. manufacturing.

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Several leading solar equipment manufacturers are calling on President Biden's administration to impose tariffs on solar panels and cells from four Asian countries to safeguard their investments in U.S. manufacturing. The companies argue that Chinese manufacturers in Southeast Asian countries are flooding the U.S. market with below-cost panels, causing prices to plummet and threatening American-made products.

If successful, the imposition of tariffs could lead to increased prices for solar panels imported for rooftop installations and large-scale solar projects in the coming months. The petitioning companies are seeking anti-dumping and countervailing duties to counter foreign subsidies and ensure fair market pricing, with expectations that the trade case could last about a year, potentially resulting in tariffs being levied within four to six months of preliminary rulings from the U.S. Commerce Department.

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Source Link: https://www.reuters.com/business/energy/us-solar-panel-makers-seek-new-tariffs-protect-domestic-factories-2024-04-24/

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US solar panel makers seek import tariffs to protect new domestic factories

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