U.S. imposes low duties on Chinese solar panels
Source: Reuters
U.S. imposes low duties on Chinese solar panels
By Doug Palmer
WASHINGTON | Tue Mar 20, 2012 3:50pm EDT
(Reuters) - The United States on Tuesday dealt a blow to U.S. manufacturers of solar panels and boosted shares in their Chinese rivals when it imposed preliminary punitive duties of less than 5 percent on imports from China.
The Coalition for American Solar Manufacturing, a U.S. industry group that has complained that massive Chinese subsidies were driving them out of business, put the best face on the lower-than-expected initial duties.
It said it believed the U.S. Commerce Department would uncover more subsidies and unfair pricing practices as it continues its probe in the coming months, which would result in higher final duties.
"Today's announcement affirms what U.S. manufacturers have long known: Chinese manufacturers have received unfair and WTO-illegal subsidies," said Steve Ostrenga, chief executive officer of Helios Solar Works in Milwaukee, Wisconsin.
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Read more: http://www.reuters.com/article/2012/03/20/us-usa-china-solar-idUSBRE82J0Z420120320
