The United States imposed duties of up to 3521% on the import of batteries from Asia
The United States has imposed new tariffs on solar panel imports from four Southeast Asian countries, with rates as high as 3,521%. About this informs Bloomberg.
The tariffs were the result of a year-long trade investigation that found solar manufacturers in Cambodia, Vietnam, Malaysia and Thailand were unfairly advantaged by government subsidies and supplied products to the US at prices below cost.
The investigation was initiated by American manufacturers and began during the presidency of Joe Biden. According to data from the US Department of Commerce, Cambodia has a maximum rate of 3,521%, which is due to the country’s refusal to participate in the investigation procedure. For companies from Vietnam, tariffs will reach 395.9%, for Thailand – 375.2%. In Malaysia, tariffs were introduced at the level of 34.4%, and individual companies received individually increased rates.
Last year, the U.S. imported $12.9 billion worth of solar equipment from these four countries — about 77% of all module imports. While these measures are aimed at supporting US manufacturers, they also make it harder for renewable energy developers who have traditionally relied on cheap imports. The new tariffs add to uncertainty in an industry already reeling from political turmoil in Washington.
These tariffs are in addition to previously introduced tariffs initiated by US President Donald Trump, which have caused significant changes in global supply chains. Anti-dumping and countervailing duties should compensate for the economic benefits obtained through subsidies and underpricing, according to calculations by the US Department of Commerce.
