Chinese companies that manufacture solar products are moving their factories abroad in an attempt to dodge EU tariffs on the products, Bloomberg reported. The EU has set provisional tariffs of 11.8% on solar goods produced in China, a rate that will increase four fold in August if an agreement between the country and the trade bloc cannot be reached. Chinese manufacturer JinkoSolar Holding (JKS.NYSE) is currently building factories in South Africa and Europe in order to avoid the duties. Canadian Solar (CSIQ.NASDAQ, L5A.FRA), which produces mainly in China, is eyeing production in Taiwan, Saudi Arabia and Turkey.
Categories