US sets tariffs of up to 3,521% on South East Asia solar panels
a year ago
- #solar panels
- #US-China trade
- #tariffs
- The US Commerce Department plans to impose tariffs up to 3,521% on solar panel imports from Cambodia, Thailand, Malaysia, and Vietnam.
- The tariffs are in response to alleged subsidies from China and dumping of cheap products in the US market.
- Duties vary by company and country, with Cambodia facing the highest at 3,521% due to lack of cooperation.
- Chinese firms like Jinko Solar and Trina Solar face tariffs of 41% and 375% respectively for their products made in Malaysia and Thailand.
- The American Alliance for Solar Manufacturing Trade Committee welcomed the decision, calling it a victory for US manufacturing.
- US imported nearly $12bn in solar equipment from these countries in 2023.
- The tariffs may benefit US manufacturers but could increase costs for businesses and consumers.
- The announcement follows Chinese President Xi Jinping's tour of Vietnam, Malaysia, and Cambodia to strengthen ties and resist US 'unilateral bullying'.
- Existing US tariffs on Chinese goods could reach 245% when combined with new tariffs, while China has retaliated with a 125% tax on US products.