The US Department of Commerce imposed tariffs on Chinese and Vietnamese wind-energy towers on complaints from competitors that the towers were sold below the cost of production, Bloomberg reported. Upon affirming the allegations, the commerce department imposed a duty of up to 73% for Chinese towers and 60% for those from Vietnam. The tariffs will “force the Chinese and Vietnamese producers to compete fairly,” Alan Price, a lawyer at Wiley Rein, said in a statement. The Commerce Department acted on complaints from US companies such as Broadwind Energy (BWEN.NASDAQ), whose stock rose 13% on Friday. In 2011, the US imported US$301 million worth of wind towers from China and Vietnam. The US sanctions on wind towers is the latest in a series of duties on Chinese renewable-energy products and has intensified trade tensions between the two economic giants.
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