Despite recently pausing its infamous tariffs for 90 days on every country except for China, the US has announced new tariffs on four ASEAN countries, namely Malaysia, Cambodia, Vietnam and Thailand for the import of solar cells.
As reported by the Bangkok Post, the tariffs are as high as 3,521% and were the result of a yearlong trade probe initiated under former President Joe Biden.
The US imposes tariffs as high as 3,521% on Malaysia, Cambodia, Vietnam and Thailand for the import of solar panels
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The probe found solar manufacturers in the aforementioned countries had allegedly unfairly benefited from government subsidies and sold exports to the US at rates lower than the cost of production.
Moreover, the new levies are known as the “antidumping and countervailing duties” and are designed to offset the value of alleged unfair subsidisation and pricing, as calculated by the US Commerce Department.
Out of the four ASEAN nations, Cambodia is the worst hit by the new tariffs: A staggering 3,521%!
The US Commerce Department elaborated that the incredibly high tariff was because Cambodia stopped participating in the investigation.
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Additionally, companies not named in Vietnam face duties of as much as 396%, while Thailand was given a tariff of 375%.
Furthermore, country-wide rates for Malaysia were posted at 34.4%. Jinko Solar was assessed duties of about 245% for exports from Vietnam and 40% for exports from Malaysia.
Trina Solar in Thailand faces levies of 375% and more than 200% from Vietnam. JA Solar modules from Vietnam could be assessed at about 120%.
Commenting on the tariffs on solar panel imports, Tim Brightbill, co-chair of Wiley’s international trade practice and lead counsel for the coalition of solar companies that pursued the case, asserted,
“This is a decisive victory for American manufacturing,”
He added that the findings confirm “what we’ve long known: that Chinese-headquartered solar companies have been cheating the system, undercutting US companies and costing American workers their livelihoods”.
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So, what do you guys think of the whole situation? Share your thoughts with us in the comments.
Also read: Minister Warns iPhone Prices Could Reach RM16K if Trump Continues Increasing Tariffs
