(Dec 12): The US will raise import tariffs on Chinese solar wafers, polysilicon and some tungsten products from the beginning of next year, following a four-year review by the Biden administration.
Tariff on those products will be increased to 50%, effective from Jan 1, according to a statement from the US Trade Representative’s office. The US has imposed import levies on solar exports from China, which dominates the global industry, since 2012, and has accused Beijing of pursuing overcapacity to inhibit production in other countries.
The increases aren’t expected to have a major impact on Chinese manufacturers, as the US only took 0.3% of the country’s direct solar component exports last year, according to a report by researchers at Australia’s Griffith University.
“The tariff increases announced today will further blunt the harmful policies and practices by the People’s Republic of China,” US Trade Representative Katherine Tai said in the statement. “These actions will complement the domestic investments made under the Biden-Harris administration to promote a clean energy economy, while increasing the resilience of critical supply chains.”
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Source: TheEdge - 13 Dec 2024
Created by edgeinvest | Jan 10, 2025
Created by edgeinvest | Jan 10, 2025
Created by edgeinvest | Jan 10, 2025
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