U.S. trade regulators reportedly rejected a bid by a consortium of local solar manufacturers seeking taxes on panels imported from three South Asian countries.
Solar developers in the United States rely on low-cost imports to make their projects competitive. In this context, the manufacturing group in August urged the Commerce Department to investigate imports from Thailand, Malaysia, and Vietnam, claiming that Chinese companies had transferred production to those economies in recent years to evade current U.S. tariffs on Chinese solar cells and panels.
The group, referred to as the American Solar Manufacturers Against Chinese Circumvention (A-SMACC), also requested for anonymity of its member to avoid any retaliation from Chinese industry.
In the first half of 2021, A-SMACC requested additional duties ranging from 50 to 250% on panel imports from the three countries, accounting for 80% of U.S. crystalline silicon solar module imports. This shows how much manufacturers in the United States are eager to eliminate low-cost foreign competition, however, the recent ruling didn’t turn in their favor.
An official with the U.S. Commerce Department's International Trade Administration wrote to an attorney for the group, stating the companies' desire for anonymity would prevent the agency from obtaining the information required to examine the request.
The U.S. Solar Energy Industries Association (SEIA) applauded the decision and said it provides a rush of clarity for organizations to keep their investments moving, hire more employees, and deploy more clean energy.
The refusal was a win for the largest solar trade authority in the United States, which argued that tariffs would negatively impact a sector crucial to achieving the Biden administration's clean energy and climate change goals.
The dismissal is a boon to the solar installation industry in the United States that was expecting substantial job losses if taxes on imported solar panels were to postpone or change utility-scale project plans.
Source Credits-
Endowed with a post graduate degree in management and finance, Pankaj Singh has been a part of the online content domain for quite a while. Having worked previously as a U.K. insurance underwriter for two years, he now writes articles for fractovia.org and other online portals. He can be contacted at- [email protected] | https://twitter.com/PankajSingh2605
Bayer newly appointed CEO, Bill Anderson, has reportedly unveiled plans to streamline the companys management structure in a bid to expedite decision-making processes. This marks the first step in a broader effort to transform the embattled German company, which has been under pressure from inv... Read More>>
Smurfit Kappa, a prominent player in the packaging industry, is reportedly engaged in merger discussions with its US counterpart, WestRock. This prospective merger has the potential to create a cardboard box-making powerhouse boasting a market value approaching $19 billion (€17.8 billion). Furt... Read More>>
The Royal Bank of Canada is reportedly planning to reduce its workforce by approximately 1,800 jobs as part of cost-cutting measures, on account of the anticipated upcoming economic landscape. This decision comes after the country's largest bank surpassed analysts' predictions for the third ... Read More>>