U.S. imposes preliminary new duties on Southeast Asia solar imports
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Solar stocks turn lower in Tuesday’s trading as the U.S. Department of Commerce set preliminary duties on solar panels imported by companies from Vietnam, Cambodia, Malaysia and Thailand.
According to a preliminary decision, the agency calculated tariff rates of between 0.14% and 3,293.61%, depending on the company, on solar cells from the four Southeast Asian countries.
The announcement is the first of two preliminary decisions the Commerce Department will make this year in a trade case brought by First Solar (NASDAQ:FSLR), Korea’s Hanwha Qcells and others.
The government’s investigation is expected to reach into next spring, and final rates could be raised, lowered or discarded altogether based on the results of the probe.
ETF: (TAN)
Other potentially relevant stocks trade lower, including Enphase Energy (ENPH), SolarEdge Technologies (SEDG), Canadian Solar (CSIQ), Shoals Technologies (SHLS), Emeren (SOL), Maxeon Solar (MAXN), Sunnova Energy (NOVA), Sunrun (RUN), JinkoSolar (JKS).