The US Commerce Department announced new anti-dumping tariffs of more than 31% on Chinese solar panel imports, a move which seems likely to anger Chinese officials, The New York Times reported. China exported some US$3.1 billion of Chinese solar cells last year, equivalent to around half the US market for solar. The new ruling, which retroactively imposes duties on imports received within 90 days before the decision was made, comes on top of anti-subsidy tariffs of 2.9-4.73% levied earlier this year. But the decision is preliminary: Chinese solar firms could be refunded the cost of duties if a final review by the Commerce Department later this year repeals the tariffs. JinkoSolar, a Chinese solar manufacturer, said the firm might shift production to existing factories in Canada, but some analysts are skeptical that Chinese banks are ready for another round of lending to fund an industry-wide jump abroad.
Categories