US imposes anti-dumping tax of up to 271% on solar panels from Vietnam and 3 other countries

The US Department of Commerce website announced on April 22 that anti-dumping duties range from 6.1% to 271.28%, while countervailing duties can be up to 3,403.96%, depending on the company and country.

Solar panels in Thailand. Photo: Reuters

Specifically, according to Reuters, the new tax rate on solar panel products from Southeast Asia (including Malaysia, Cambodia, Thailand and Vietnam) of the US varies between businesses and countries, but is higher than the initial rate at the end of last year.

The total anti-dumping and countervailing duties on Jinko Solar products from Malaysia are among the lowest at 41.56%, while Trina Solar products from Thailand are subject to a duty of more than 375%.

Products from Cambodia will be subject to tariffs of more than 3,500% because manufacturers have chosen not to cooperate with the US investigation.

For these tariffs to take effect, the US International Trade Commission will vote next June to assess whether the dumping and subsidization practices are causing serious injury to the domestic industry.

Earlier, US solar manufacturers initiated a lawsuit accusing foreign companies of dumping and receiving unfair subsidies. These manufacturers accused Chinese giants Jinko Solar and Trina Solar of setting up factories in Southeast Asia to avoid tariffs, then exporting cheap equipment to the US, harming the domestic manufacturing industry.

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US imposes anti-dumping tax of up to 271% on solar panels from Vietnam and 3 other countries

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Source: https://baogialai.com.vn/my-ap-thue-den-271-chong-ban-pha-gia-pin-mat-troi-tu-viet-nam-va-3-quoc-gia-khac-post319936.html