On the 7th of November, the United States International Trade Commission arrived at a decision to raise tariffs on solar panels produced in China. The proponents of tariffs’ rise won, securing their businesses for at least five years. According to the Commission, the tariffs on Chinese solar panels will rise from 24% to 36%. This measure will help domestic companies hire more workers and compete with the unfair Chinese manufacturers. According to Gordon Brinser, CEO of SolarWorld Industries America, the decision of the US International Trade Commission helped to fix the situation, confirming illegal activities of the Chinese. Mr. Brinser thinks that China’s solar panel manufacturers decimated homegrown industries. The decision of the Commission comes in line with the policy of the Commerce Department. It has already imposed the tariffs on Chinese solar companies. The thing is that these companies are unfairly subsidized by China’s government and, as a result, they can sell solar panels below their actual costs.
U.S. Raised Tariffs on Solar Panels from China
Speak Your Mind
You must be logged in to post a comment.