US slaps duties on China solar imports

The US approved five-year duties on solar energy products from China Wednesday in a bid to protect US manufacturers, Reuters reported. The US International Trade Commission (ITC) voted 6-0 in favor of tariffs in a case filed by US solar panel maker SolarWorld Industries America last year. More than a hundred Chinese producers and exporters will have to pay duties of roughly 31%, with some facing duties of more than 250%. SolarWorld accused Chinese solar companies, including Suntech Power Holdings (STP.NYSE, S9H.FRA) of unfair trade practices. Chinese firms allegedly took government subsidies which enabled them to undercut market prices. China contends that the case showcases the protectionist stance of the US and warned of higher prices for consumers. The ITC rejected proposals for duties to have a 90 day retrospective effect in a separate 4-2 vote.