US commerce department brings heavy tariffs against Chinese solar panels

US commerce department brings heavy tariffs against Chinese solar panels The preliminary decision, that China had dumped solar products on the US for less than the cost of manufacture, will result in tariffs of between 31% and 250% on Chinese imports. Chinese government subsidies helped drive down the price of solar panels by 80 % over the last five years, and by 40% in the last year alone. In its decision, the US commerce department said it would impose tariffs of about 31% on about 60 Chinese solar panel exporters which participated in the investigation, including Wuxi Suntech and Trina Solar. 73% imposed last March. Jigar Shah, who heads the Coalition for Affordable Solar Energy, told reporters Thursday's ruling will mean higher prices for consumers and will set back the adoption of solar. There were also fears the move could lead to a broader US-Chinese trade war. The levies will be retroactive for 90 days. The tariffs were along with fees ranging from 2. The seven US-based solar panel makers which brought the complaint said the ruling from the commerce department would help American companies hold their own against Chinese competitors. "We think it's raising taxes 31% on solar cells, and we think it's going to increase solar electricity prices in the US precisely at the present time that solar power is becoming competitive," Shah said. US commerce department brings heavy tariffs against Chinese solar panels Trade News selected by Local Linkup on 18/05/2012