Solar Wars: US Sets Higher Tariffs On Chinese Solar Products

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Solar Wars: US Sets Higher Tariffs On Chinese Solar Products

Solar Wars: US Sets Higher Tariffs On Chinese Solar Products

obama looking at solar panels

Image by The White House | Wikipedia

The United States has implemented new import duties on solar panels from China, a move that sets higher and more extensive tariffs.

Trade tension

The Department of Commerce said it would seek to impose tariffs ranging from nearly 19% to 35%, higher than in 2012.

The decision to close a loophole that allowed some solar panel makers to avoid tariffs would potentially inflame trade tensions between the two countries.

China is the biggest solar-equipment maker, but US manufacturers said subsidies have helped Chinese businesses flood the US market with cheap products.

Abuse of trade remedies

Meanwhile, industry experts argued that implementing high import duties would make solar equipment costly. Doing this would discourage more consumers who wish to switch to renewable energy.

“The ruling is a major setback for the entire US solar industry because it will immediately increase the price of solar power and cost American jobs in one of fastest-growing sectors of the US economy,” said the Coalition for Affordable Solar Energy.

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About The Author
Hector Madison is a financial advisor in an investment support company in New York. He also teaches in a prestigious business school in New York City.
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