US Sets Final Anti-Dumping Duties on Chinese Solar Panels

Created: 2012-10-11 09:36 EST

Category: Business
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To combat the dumping of Chinese solar panels, the US has set heavy duties on billions of dollars worth of solar panel imports from the Mainland.
 
China’s solar industry is heavily subsidized by the Chinese government, creating an oversupply of panels, and dumping at much lower rates.
 
The Commerce Department says Chinese companies were dumping solar cells and panels at prices 18% to 250% below market price.
 
The imposed duties could range from 30% to 250% depending on the company and the government subsidy they receive. The Commerce Department also set countervailing duty rates ranging from about 15% to 16% to compensate for the subsidies.
 
The imposing of anti-dumping duties is currently limited to panels made of Chinese solar cells.
 
China has warned the US stance could damage US-China trade relations, and slow the development of the solar energy sector.