Korean Media: The U.S. Imposes 126% Tariff on Solar Products from India!
On March 28, South Korean media outlet Newsis published an article stating that the Donald Trump administration in the United States imposed a 126% tariff on solar products originating from India, citing issues related to subsidies provided by the Indian government.
Lately, the U.S. Department of Commerce announced provisional tariffs of 126% on solar panels from India, between 86% and 143% on those from Indonesia, and 81% on those from Laos.
This is a temporary tariff at the level of the U.S. Department of Commerce and is unrelated to President Trump's 10% "global tariff."
The measure was taken following a request from the American Solar Manufacturing and Trade Alliance (AASMT) in July last year for an investigation into subsidies from various countries to protect domestic industries; it will remain in effect until the U.S. Department of Commerce makes its final decision on July 6.
When announcing the tariffs, the U.S. Department of Commerce stated: "Indian government subsidies enable these companies to sell products in the U.S. market below production costs, which is harming the interests of domestic U.S. manufacturing."
Some analysts believe that Indian solar companies have long relied on the high-profit U.S. market for rapid expansion, but now the U.S. market has effectively been closed off.
However, other analyses suggest that since the final burden of these tariffs falls on importers and consumers, the U.S. may actually suffer greater economic losses.
In fact, based on data from the first half of last year, 57% of U.S. solar panel imports came from India, Indonesia, and Laos—countries subject to high tariffs.
Original Source: toutiao.com/article/1860905597740041/
Disclaimer: This article represents the personal views of the author.