The US Commerce Department has announced a new round of tariffs on solar panels imported from Malaysia, Cambodia, Vietnam, and Thailand. The move is aimed at protecting American solar manufacturing companies that claim to be threatened by unfairly cheap goods from these countries.
The decision comes as part of a trade case brought by several US-based solar manufacturers against companies in Southeast Asia, including those owned by China’s Hanwha Qcells and Jinko Solar. The complaint alleges that big Chinese solar panel makers are dumping products into the market, causing global prices to collapse.
According to the Commerce Department, tariffs will be imposed on solar cells from these countries ranging from 21.31% to 271.2%, depending on the company involved. For example, Jinko Solar will face a tariff of 21.31% for products made in Malaysia and 56.51% for those produced in Vietnam.
The move is part of a broader effort by the Biden administration to protect American workers in the clean energy sector. The US has also raised concerns over China’s massive investment in factory capacity for clean energy goods, which includes solar panels.
Most solar panels installed in the US are made overseas, with around 80% coming from these four countries targeted in the Commerce Department probe. The final determinations on tariffs are set to be announced on April 18, 2025, and will be followed by further action in June 2025.
Source: https://www.reuters.com/business/energy/us-decide-another-round-solar-panel-tariffs-2024-11-29