US Deepens China Solar Tariff Probe With Scrutiny of 8 Firms
- Longi, Trina, Jinko get questionnaires from Commerce
- Companies required to submit material source information
The US Commerce Department is deepening its probe right into whether solar energy companies are circumventing import tariffs, selecting a few of the market's giants for increased scrutiny.
The firm determined 8 suppliers, consisting of industry leaders Longi Green Energy Technology Co., Trina Solar Co. as well as Jinko Solar Co., for mandatory questionnaires to plumb for additional information on whether they are skirting US tariffs on China-made solar items by assembling them in Southeast Asia.
The probe has already roiled the United States solar industry and tossed a wrench into decarbonization plans, with companies halting projects as well as canceling deliveries despite potentially large added tariffs. The globe's biggest solar manufacturers, mostly based in China, are diverting their focus and also products to the rising European market amid the US interruptions.
Shares of significant Chinese solar companies fell on Monday, with Jinko stumbling as much as 5.3%, Trina going down 4.1% and also Longi 2.5% in Shanghai.
The eight companies, located in Cambodia, Malaysia, Thailand as well as Vietnam, were asked to send information by May 27, including their ownership structure and also resource of products for manufacturing procedures, according to letters that Commerce uploaded on its website. The Department has till Aug. 29 to provide preliminary findings in the circumvention case, with the prolonged due date for a last resolution in April 2023.
The Commerce probe likewise includes units of Canadian Solar Inc., Hanwha Q CELLS Co. and also BYD Co., as well as New East Solar Energy Co. and also Boviet Solar Technology Co. Longi, the globe's largest solar company by market capitalization, is being targeted with its Vietnamese unit Vina Solar Technology Co