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[font=Arial, Georgia, sans-serif]ITC Votes In Favor Of Imposing Tariffs On Cheap (Chinese) Solar Panel Imports[/font]
[font=Arial, Georgia, sans-serif][img=40x40]http://www.zerohedge.com/sites/default/files/pictures/picture-5.jpg[/img]
[size=small]by Tyler Durden
Sep 22, 2017 11:50 AM
7
SHARES
TwitterFacebookReddithttp://www.zerohedge.com/printmail/603994http://www.zerohedge.com/print/603994
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[font=Arial, Georgia, sans-serif][font=lucida_granderegular, Verdana, sans-serif]In a decision that could potentially have a profound impact on US trade policy, the US International Trade Commission has ruled that a flood of cheap, foreign solar panels is unfairly hurting US manufacturers, creating the opportunity for President Donald Trump to follow through on his protectionist campaign rhetoric and impose tariffs and import quotas as soon as November.[/font]
[font=lucida_granderegular, Verdana, sans-serif]If Trump imposes the tariffs, what would be his second significant protectionist act targeting China since approving an investigation into the country's controversial IP policies that some[size=small][font=lucida_granderegular, Verdana, sans-serif] view as tantamount to starting a trade war.[/font]http://www.zerohedge.com/news/2017-...-war-china-signing-memorandum-chinese-ip-laws Tariffs would upend the $29 billion US solar industry, according to [font=lucida_granderegular, Verdana, sans-serif]Bloomberg[/font]. More expensive prices for cells and panels would hurt demand for solar potentially reversing a trend of growing demand that has persisted for much of the past decade. Even before the Friday vote, some developers had halted construction and begun hoarding supplies, anticipating that tariffs could double the price of imported components.[/font]
[font=lucida_granderegular, Verdana, sans-serif]The ITC is now set to deliver its recommendations to address the import surge to the president by Nov. 13, handing him an opportunity to score political points on three priorities: He can slap a tariff on China and argue he’s protecting US jobs, all while undermining an industry that competes with coal, an energy that Trump cultivated close ties with during the campaign. The ITC's vote gives Trump a measure of cover to impose the sanctions.[/font]
[font=lucida_granderegular, Verdana, sans-serif]The case was inspired by Georgia-based Suniva Inc., which filed for bankruptcy protection in April and followed up days later with the trade suit. The company is seeking import duties of 40 cents a watt for solar cells, and a floor price of 78 cents a watt for panels, which currently average about 32 cents worldwide. The US unit of German panel manufacturer SolarWorld AG joined Suniva to argue that the company had been driven to bankruptcy by a global glut of cheap cells, an industry dominated by China. Unlike earlier trade cases, this one would apply on U.S. imports from any nation.[/font]
[font=lucida_granderegular, Verdana, sans-serif]Shares of First Solar popped because it’s panel technology would be excluded while shares of other solar companies tumbled. [/font]
[font=lucida_granderegular, Verdana, sans-serif][size=small][font=lucida_granderegular, Verdana, sans-serif][img=500x263]http://www.zerohedge.com/sites/default/files/images/user245717/imageroot/2017/09/18/2017.09.22firstsolarchart_0.JPG[/img][/font]http://www.zerohedge.com/sites/defa...root/2017/09/18/2017.09.22firstsolarchart.JPG[/font][/size]
[/font][/size]
[font=Arial, Georgia, sans-serif][img=40x40]http://www.zerohedge.com/sites/default/files/pictures/picture-5.jpg[/img]
[size=small]by Tyler Durden
Sep 22, 2017 11:50 AM
7
SHARES
TwitterFacebookReddithttp://www.zerohedge.com/printmail/603994http://www.zerohedge.com/print/603994
[/font][/size]
[font=Arial, Georgia, sans-serif][font=lucida_granderegular, Verdana, sans-serif]In a decision that could potentially have a profound impact on US trade policy, the US International Trade Commission has ruled that a flood of cheap, foreign solar panels is unfairly hurting US manufacturers, creating the opportunity for President Donald Trump to follow through on his protectionist campaign rhetoric and impose tariffs and import quotas as soon as November.[/font]
[font=lucida_granderegular, Verdana, sans-serif]If Trump imposes the tariffs, what would be his second significant protectionist act targeting China since approving an investigation into the country's controversial IP policies that some[size=small][font=lucida_granderegular, Verdana, sans-serif] view as tantamount to starting a trade war.[/font]http://www.zerohedge.com/news/2017-...-war-china-signing-memorandum-chinese-ip-laws Tariffs would upend the $29 billion US solar industry, according to [font=lucida_granderegular, Verdana, sans-serif]Bloomberg[/font]. More expensive prices for cells and panels would hurt demand for solar potentially reversing a trend of growing demand that has persisted for much of the past decade. Even before the Friday vote, some developers had halted construction and begun hoarding supplies, anticipating that tariffs could double the price of imported components.[/font]
[font=lucida_granderegular, Verdana, sans-serif]The ITC is now set to deliver its recommendations to address the import surge to the president by Nov. 13, handing him an opportunity to score political points on three priorities: He can slap a tariff on China and argue he’s protecting US jobs, all while undermining an industry that competes with coal, an energy that Trump cultivated close ties with during the campaign. The ITC's vote gives Trump a measure of cover to impose the sanctions.[/font]
[font=lucida_granderegular, Verdana, sans-serif]The case was inspired by Georgia-based Suniva Inc., which filed for bankruptcy protection in April and followed up days later with the trade suit. The company is seeking import duties of 40 cents a watt for solar cells, and a floor price of 78 cents a watt for panels, which currently average about 32 cents worldwide. The US unit of German panel manufacturer SolarWorld AG joined Suniva to argue that the company had been driven to bankruptcy by a global glut of cheap cells, an industry dominated by China. Unlike earlier trade cases, this one would apply on U.S. imports from any nation.[/font]
[font=lucida_granderegular, Verdana, sans-serif]Shares of First Solar popped because it’s panel technology would be excluded while shares of other solar companies tumbled. [/font]
[font=lucida_granderegular, Verdana, sans-serif][size=small][font=lucida_granderegular, Verdana, sans-serif][img=500x263]http://www.zerohedge.com/sites/default/files/images/user245717/imageroot/2017/09/18/2017.09.22firstsolarchart_0.JPG[/img][/font]http://www.zerohedge.com/sites/defa...root/2017/09/18/2017.09.22firstsolarchart.JPG[/font][/size]
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