China's Jinko to produce solar panels in Florida by fourth quarter despite tariffs
Source: Reuters
ENVIRONMENT JUNE 19, 2018 / 5:35 PM / UPDATED AN HOUR AGO
China's Jinko to produce solar panels in Florida by fourth quarter despite tariffs
Dave Gregorio
3 MIN READ
NEW YORK (Reuters) - Chinese manufacturer JinkoSolar Holding Co Ltd expects to start manufacturing solar panels at a new factory in Jacksonville, Florida, by the fourth quarter, and production will not be affected by the latest round of U.S. tariffs on Chinese products, a company executive said on Tuesday.
The administration of President Donald Trump on Monday threatened to slap a 10 percent tariff on $200 billion of Chinese goods in addition to import duties previously announced on $50 billion in goods, deepening a trade conflict that has hit financial markets and has led Beijing to vow a firm response.
Jeff Juger, business development director of JinkoSolar, said the $50 billion in tariffs on Chinese products “do not impact our operation in Florida because all the cells we’re going to import (to the plant) come from Malaysia.” And to deal with tariffs imposed by the Trump administration on imported solar panels earlier this year, Juger said the Florida plant would take advantage of an exemption that allows U.S. manufacturers to import 2.5 gigawatts of tariff-free cells for use in manufacturing solar modules at American plants.
“The 2.5 gigawatt exemption gives us quite a bit of headroom to import tariff-free cells,” he said on a panel at the Renewable Energy Finance Forum in New York.
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Read more: https://www.reuters.com/article/us-jinkosolar-florida-factory/chinas-jinko-to-produce-solar-panels-in-florida-by-fourth-quarter-despite-tariffs-idUSKBN1JF34P
