China slaps tariffs on US solar panel materials

China is set to impose tariffs on Friday on imports of US materials used to build solar panels, The Wall Street Journal reported. The 6.5% tariff was far lower than expected with China’s Commerce Ministry saying in July that the tariffs could reach up to 57%. The move comes after the US imposed tariffs on Chinese-made solar cells last year after it was determined that Chinese manufacturers were receiving illegal subsidies and were dumping their goods in the US. The EU was also set to introduce heavy tariffs in July for similar reasons but instead set a minimum price for Chinese-made solar panels and capped the volume sold in Europe.