US mid-term review of solar panel safeguards

The United States International Trade Commission (USITC) has issued a notice of mid-term review of the safeguard measure on photovoltaic cells, whether or not fully or partially incorporated into other products (collectively referred to as “solar cells”) to assess changes in the U.S. domestic industry after the imposition of the measure. On that basis, if necessary, the USITC may propose changes to the measure.

Regarding the incident, the Department of Trade Defense, Ministry of Industry and Trade said that the US's safeguard measures against imported solar panels, in February 2018, the US issued an order to impose safeguard duties on imported solar panels, in the form of tariff quotas. The measures are effective for 4 years.

In February 2022, US President Joe Biden decided to extend the above safeguard measures for another 4 years.

Specifically, the United States applies a tariff quota, with a quota of 5 gigawatts (double the original measure). Imported products within the quota are still not subject to safeguard duties, but are only subject to import duties according to the current US tariff schedule (currently 0%).

Imported products outside the quota are subject to a safeguard tax of 14.75% for the first year (a reduction of 0.25% compared to the original measure) and will be gradually reduced in subsequent years (each year a reduction of 0.25% compared to the tax rate of the previous year), added to the current import tax. The measure is effective for 4 years.

According to the regulations, for safeguard measures that have been in effect for more than 3 years, the USITC must conduct a mid-term review and report to the President and the US Congress on the adjustment of the domestic industry after the safeguard measure is applied, and may propose adjustments (reduction, change or termination of the measure), if necessary. The above report must be submitted before the mid-term of the measure's application period (expected before February 6, 2024).

Interested parties wishing to participate in the interim review must register with the USITC within 21 days of the date the notice of review is published.

The Trade Remedies Authority recommends that, in preparation for this review report, the USITC will hold a hearing at 9:30 a.m. on November 14, 2023 (US time).

The deadline to register for the hearing is November 7, 2023. Hearing details are posted at https://www.usitc.gov/calendarpad/calendar.html.

Source link: https://congthuong.vn/hoa-ky-ra-soat-giua-ky-bien-phap-tu-ve-voi-pin-nang-luong-mat-troi-258781.html