US slaps new tariffs on solar imports from 4 Southeast Asian nations | Check which ones
The DOC identified final dumping margins of 125.37% for Cambodia, 271.28% for Vietnam, 111.45% for Thailand and 8.59% for Malaysia, on a country-wide basis.
The US set new duties on solar imports from four Southeast Asian nations that together provide the country with the bulk of its panels.
The decision is the culmination of a yearlong trade probe that found solar manufacturers in Southeast Asia are unfairly benefiting from government subsidies and are selling their exports to the US at rates lower than the cost of production. The investigation was sought by domestic solar manufacturers and initiated under former President Joe Biden.
The Department of Commerce identified final dumping margins of 125.37% for Cambodia, 271.28% for Vietnam, 111.45% for Thailand and 8.59% for Malaysia, on a country-wide basis. Many of the final subsidy rates reflect increases from earlier, preliminary levels.
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US-based First Solar Inc. rose 0.6% after regular market hours.
While the duties on solar cells and panels completed in Cambodia, Malaysia, Thailand and Vietnam are a clear win for manufacturers based in the US, they threaten to raise development costs for a renewable power sector already facing policy and economic headwinds. President Donald Trump is attempting to boost fossil fuels and has moved to slash support for green projects.
The new solar levies will be in addition to new widespread tariffs imposed by Trump that have upended global supply chains and markets. The antidumping and countervailing duties, as they are known, are designed to offset the value of alleged unfair subsidization and pricing, as calculated by the Commerce Department.
US imported $12.9 billion in solar equipment
The US imported $12.9 billion in solar equipment last year from the four countries that would be subject to the new duties, according to BloombergNEF. That represents about 77% of total module imports.
The duties hinge on separate action by the US International Trade Commission, which is set to decide in about a month whether producers are being harmed or are threatened by the imports.
After similar duties were imposed on solar imports from China roughly 12 years ago, Chinese manufacturers responded by setting up operations in other nations that weren’t affected by the tariffs. The US initiated a probe that was triggered by an April petition from the American Alliance for Solar Manufacturing Trade Committee, which represents companies including First Solar, Hanwha Qcells USA Inc. and Mission Solar Energy LLC.
