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EU Plans Tariffs of Up to 67.9% on Chinese Solar Panels
Chinese solar-panel manufacturers will face import tariffs of up to 67.9% at European Union borders under a plan from the 27-nation bloc's executive body, according to a copy of the plan viewed by The Wall Street Journal. The tariffs, which will come into effect by June 6, will range from 37.3% to 67.9%, according to the document, drafted by the European Commission. Some of the largest Chinese manufacturers will face duties on the higher end of that range.
The proposal is likely to spark one of the largest battles over unfair trade ever waged under the decades-old system of international trade rules. European manufacturers say Chinese firms are selling their products well below fair-market prices in a bid to dominate the world market for solar panels.
Suntech Power Holdings Co and its subsidiaries will face tariffs of 48.6%, according to the document. Tariffs on LDK Solar Ltd will be 55.9%, and tariffs on Trina Solar will be 51.5%. JingAo Solar Co. will face tariffs of 58.7%, the document says. Most other Chinese companies in the sector that cooperated with the investigation will pay the average tariff of 47.6%. Those that didn't will pay a tariff of 67.9%, according to the document.
...snip...
The plan addresses only charges of unfair pricing. European manufacturers have filed a separate complaint against the Chinese firms alleging they receive Chinese-government support that violates international trade rules. The findings of that investigation by the European Commission won't be available until August, at the earliest.
http://online.wsj.com/article/SB10001424127887324059704578471001834446588.html
The proposal is likely to spark one of the largest battles over unfair trade ever waged under the decades-old system of international trade rules. European manufacturers say Chinese firms are selling their products well below fair-market prices in a bid to dominate the world market for solar panels.
Suntech Power Holdings Co and its subsidiaries will face tariffs of 48.6%, according to the document. Tariffs on LDK Solar Ltd will be 55.9%, and tariffs on Trina Solar will be 51.5%. JingAo Solar Co. will face tariffs of 58.7%, the document says. Most other Chinese companies in the sector that cooperated with the investigation will pay the average tariff of 47.6%. Those that didn't will pay a tariff of 67.9%, according to the document.
...snip...
The plan addresses only charges of unfair pricing. European manufacturers have filed a separate complaint against the Chinese firms alleging they receive Chinese-government support that violates international trade rules. The findings of that investigation by the European Commission won't be available until August, at the earliest.
http://online.wsj.com/article/SB10001424127887324059704578471001834446588.html
Related -
Chinese Solar Firms Face Crunch From EU Tariffs .
BEIJING—China's solar companies, already reeling from a collapse in product prices, will face an even tougher road ahead if the European Union follows through with a plan to impose steep tariffs.
"There is no way we can be profitable with the new tariffs," said Zhang Longgen, chief financial officer at JinkoSolar Holding Co., which ranks among China's top solar-panel manufacturers. "The only thing we can do is increase the price of our products."
http://online.wsj.com/article/SB10001424127887324059704578472582876535090.html
BEIJING—China's solar companies, already reeling from a collapse in product prices, will face an even tougher road ahead if the European Union follows through with a plan to impose steep tariffs.
"There is no way we can be profitable with the new tariffs," said Zhang Longgen, chief financial officer at JinkoSolar Holding Co., which ranks among China's top solar-panel manufacturers. "The only thing we can do is increase the price of our products."
http://online.wsj.com/article/SB10001424127887324059704578472582876535090.html
