INDUSTRY BRIEF: U.S. sets preliminary duties on Southeast Asian solar panels
The U.S. Commerce Department has set new preliminary duties on solar panels imported from Southeast Asia, after U.S. manufacturers complained such products receive unfair government support, Bloomberg reported on Tuesday. The duties are generally aimed at Chinese manufacturers that have set up facilities in the region to avoid earlier U.S. tariffs on solar panels made in China.
The new duties are both country- and company-specific. In the former category, solar panels from Malaysia will be subject to a 9.13% tariff, while ones from Thailand will be subject to 23.06%, according to Bloomberg. Among specifically targeted companies, JinkoSolar (JKS.US; 688223.SH) panels made in Malaysia will be subject to 3.47% tariffs, while JA Solar (002459.SZ) panels made in Vietnam will be subject to 2.85%.
Analysts told Bloomberg the final rates were lower than many observers were expecting. But they added that the new rates are only preliminary, and final rates could be higher.
By Doug Young
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