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US Approves Five-Year Anti-dumping Duties on Chinese Solar Panels
Friday, November 9, 2012 6:43
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The US International Trade Commission has approved anti-dumping and import duties on billions of dollars worth of solar panel imports from China for the next five years. The imposed duties could range from 30 to 250 percent depending on the company and the government subsidy they received in China. The Trade Commission voted 6-0 in favor of duties in a case filed last year by SolarWorld Industries America. SolarWorld is the manufacturer of solar panels in the US, and last year it accused China-based Suntech Power Holdings of selling solar cells in the US at unfairly low prices due to subsidies it received from Beijing. SolarWorld AG, which is SolarWorld's parent company in Germany, is pressing the European Union for similar curbs on Chinese solar products. Solar panel makers in the US and Europe say their profits and share prices have been hit hard since Chinese companies oversaturated the market with solar cells. The United States imported about $3.1 billion worth of solar cells and panels from China in 2011. For more news and videos visit ☛ ntd.tv Follow us on Twitter ☛ http Add us on Facebook ☛ on.fb.me
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2012-11-09 05:45:28
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