Mr. Joe Biden has vetoed a Congressional Resolution proposing to abolish tax exemptions on solar panels imported from Malaysia, Cambodia, Thailand, and Vietnam.
The Department of Trade Defense (Ministry of Industry and Trade) said this is the latest development in a series of events related to the US Department of Commerce (DOC) investigating anti-tax evasion, anti-dumping and anti-subsidy of solar panels imported from the above four countries.
After the President vetoes the resolution, he returns it to the House of Representatives, where it was introduced. The process of passing the resolution a second time begins again in both houses. Only when the two-thirds majority vote in both houses is reached can Congress override the President's veto and the resolution is officially passed.
If the Resolution is passed, DOC will not be able to exempt solar panels from anti-dumping and anti-subsidy duties for two years as previously directed by Mr. Biden.
This is the third veto of Joe Biden's term. Accordingly, the President said that his "Invest in America" program has mobilized hundreds of millions of dollars in private investment in the manufacturing and clean energy sectors, creating many good-income jobs. In the solar energy industry alone, since he took office, 51 new solar power equipment factories have been built and expanded. The US is on track to increase its solar panel production capacity up to 8 times.
The plan is working, so the President decided to veto the Congressional proposal because he did not want to introduce unpredictability to businesses and workers. The United States must increase energy security by focusing on expanding capacity, which will be achieved when the President's tax breaks expire in June 2024.
In June 2022, in the face of an emergency due to a shortage of solar cells and modules in the US, Mr. Biden assigned the DOC to consider allowing anti-dumping and tax evasion (if any) exemptions for these products imported from Cambodia, Malaysia, Thailand and Vietnam for a period of 24 months from the date of declaration or when the emergency is lifted. 75% of the modules imported into the US actually come from the above 4 countries, so imposing taxes will put US energy companies at risk of input costs and halt projects.
In September 2022, DOC updated the regulations to implement President Biden's proclamation - effective November 15, 2022.
However, on April 19, the US House of Representatives passed Resolution HJRes.39 regarding the import of solar panels. Accordingly, the House of Representatives proposed to cancel the DOC's Decision. The US Senate then voted to pass the above Resolution.
According to the US legislative process, the Resolution, after being passed by Congress (including the Senate and the House of Representatives), will be sent to the President for approval or veto.
Duc Minh
Source link
Comment (0)