US-China Trade War escalates
The long-awaited Trade War with China has started. Commerce Secretary Gary Locke (pictured with President Obama) has slapped a retroactive tax on all Chinese solar panel imports. Other OECD countries are expected to follow suit.
The U.S. Department of Commerce issued a preliminary “trade-remedy” finding that Chinese energy companies like GCL which rely on state sponsorship of its solar industry, are anti-competitive under U.S. and international trade law, and ordered preliminary duties on the industry’s U.S. exports of crystalline silicon solar cells and panels to offset the effects of China’s illegal subsidies.
Commerce will require importers of record to post deposits or bonds toward anti-subsidy margins of 2.9 percent for cells and panels made by Suntech, 4.73 percent Trina Solar and 3.59 percent for all other Chinese manufacturers.
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