Latest news with #HanwhaQcells
Malay Mail
21-05-2025
- Business
- Malay Mail
US targets Malaysia, neighbours as cheap solar panels spark tariff battle
WASHINGTON, May 21 — The US International Trade Commission determined on Tuesday that domestic solar panel makers were materially harmed or threatened by a flood of cheap imports from four Southeast Asian nations, bringing the United States a step closer to imposing stiff duties on those goods. The 'yes' vote by the three-member ITC means the Commerce Department will issue orders to enforce countervailing and anti-dumping tariffs on solar products imported from Malaysia, Thailand, Cambodia and Vietnam that the agency finalized last month. The vote resolves a year-old trade case in which American manufacturers accused Chinese companies of flooding the market with unfairly cheap goods from factories in Southeast Asia. Since that time, President Donald Trump has pursued a broad strategy to impose tariffs on imported products to protect manufacturers of US-made goods. The Commerce Department cannot impose tariffs unless the ITC finds that the domestic industry was harmed or threatened by overseas rivals receiving unfair subsidies and dumping products in the US market. The outcome of the vote was posted in a brief notice on the ITC's web site. It was not immediately clear how each commissioner voted. The trade case was brought last year by Korea's Hanwha Qcells, Arizona-based First Solar Inc and several smaller producers seeking to protect billions of dollars in investments in US solar manufacturing. '(Tuesday's) vote leaves no doubt: these Chinese-headquartered companies have been violating trade laws by overwhelming the US market with unfairly cheap, dumped and subsidized solar panels – and they continue to do so from third-party markets around the world, undermining US industrial strategy and stunting new investment,' Tim Brightbill, the lead attorney for the petitioning group, the American Alliance for Solar Manufacturing Trade Committee, said in a statement. 'This cannot stand. Our growing American industry deserves — and now will have — the chance to compete fairly,' Brightbill said. The vast majority of panels installed in the United States are imported from Asia. In 2022, former President Joe Biden's signature climate change law, the Inflation Reduction Act, created a tax credit for clean energy manufacturing, and more than 100 solar factories have been announced or expanded since then, according to the American Clean Power Association trade group. A top US solar trade group, the Solar Energy Industries Association, said new tariffs would actually harm domestic producers by increasing costs for panel buyers. '(Tuesday's) decision by the US International Trade Commission is concerning for American solar manufacturers and the broader US solar industry,' SEIA President Abigail Ross Hopper said in a statement. 'The USITC's final affirmative injury determination adds an additional layer of tariffs that will raise costs for the solar products American companies need to build projects and grow domestic manufacturing.' — Reuters
South China Morning Post
20-05-2025
- Business
- South China Morning Post
US clears way for stiff tariffs on Southeast Asian solar imports
The US International Trade Commission determined on Tuesday that domestic solar panel makers were materially harmed or threatened by a flood of cheap imports from four Southeast Asian nations, bringing the United States a step closer to imposing stiff duties on those goods. The 'yes' vote by the three-member ITC means the US Commerce Department will issue orders to enforce countervailing and anti-dumping tariffs on solar products imported from Malaysia, Thailand, Cambodia and Vietnam that the agency finalised last month. The vote resolves a year-old trade case in which American manufacturers accused Chinese companies of flooding the market with unfairly cheap goods from factories in Southeast Asia. Since that time, US President Donald Trump has pursued a broad strategy to impose tariffs on imported products to protect manufacturers of US-made goods. The US Commerce Department cannot impose tariffs unless the ITC finds that the domestic industry was harmed or threatened by overseas rivals receiving unfair subsidies and dumping products in the US market. The outcome of the vote was posted in a brief notice on the ITC's website. It was not immediately clear how each commissioner voted. 01:13 Qatar opens first solar power plant built with Chinese equipment and technology Qatar opens first solar power plant built with Chinese equipment and technology The trade case was brought last year by Korea's Hanwha Qcells, Arizona-based First Solar Inc and several smaller producers seeking to protect billions of dollars in investments in US solar manufacturing.
CNA
20-05-2025
- Business
- CNA
US trade panel's vote paves way for stiff tariffs on many solar imports
The U.S. International Trade Commission determined on Tuesday that domestic solar panel makers were materially harmed or threatened by a flood of cheap imports from four Southeast Asian nations, bringing the United States a step closer to imposing stiff duties on those goods. The "yes" vote by the three-member ITC means the Commerce Department will issue orders to enforce countervailing and anti-dumping tariffs on solar products imported from Malaysia, Thailand, Cambodia and Vietnam that the agency finalized last month. The vote resolves a year-old trade case in which American manufacturers accused Chinese companies of flooding the market with unfairly cheap goods from factories in Southeast Asia. Since that time, President Donald Trump has pursued a broad strategy to impose tariffs on imported products to protect manufacturers of U.S.-made goods. The Commerce Department cannot impose tariffs unless the ITC finds that the domestic industry was harmed or threatened by overseas rivals receiving unfair subsidies and dumping products in the U.S. market. The outcome of the vote was posted in a brief notice on the ITC's web site. It was not immediately clear how each commissioner voted. The trade case was brought last year by Korea's Hanwha Qcells, Arizona-based First Solar Inc and several smaller producers seeking to protect billions of dollars in investments in U.S. solar manufacturing. "(Tuesday's) vote leaves no doubt: these Chinese-headquartered companies have been violating trade laws by overwhelming the U.S. market with unfairly cheap, dumped and subsidized solar panels - and they continue to do so from third-party markets around the world, undermining U.S. industrial strategy and stunting new investment," Tim Brightbill, the lead attorney for the petitioning group, the American Alliance for Solar Manufacturing Trade Committee, said in a statement. "This cannot stand. Our growing American industry deserves - and now will have - the chance to compete fairly," Brightbill said. The vast majority of panels installed in the United States are imported from Asia. In 2022, former President Joe Biden's signature climate change law, the Inflation Reduction Act, created a tax credit for clean energy manufacturing, and more than 100 solar factories have been announced or expanded since then, according to the American Clean Power Association trade group. A top U.S. solar trade group, the Solar Energy Industries Association, said new tariffs would actually harm domestic producers by increasing costs for panel buyers. "(Tuesday's) decision by the U.S. International Trade Commission is concerning for American solar manufacturers and the broader U.S. solar industry," SEIA President Abigail Ross Hopper said in a statement. "The USITC's final affirmative injury determination adds an additional layer of tariffs that will raise costs for the solar products American companies need to build projects and grow domestic manufacturing."
Reuters
20-05-2025
- Business
- Reuters
US trade panel's vote paves way for stiff tariffs on many solar imports
May 20 (Reuters) - The U.S. International Trade Commission determined on Tuesday that domestic solar panel makers were materially harmed or threatened by a flood of cheap imports from four Southeast Asian nations, bringing the United States a step closer to imposing stiff duties on those goods. The "yes" vote by the three-member ITC means the Commerce Department will issue orders to enforce countervailing and anti-dumping tariffs on solar products imported from Malaysia, Thailand, Cambodia and Vietnam that the agency finalized last month. The vote resolves a year-old trade case in which American manufacturers accused Chinese companies of flooding the market with unfairly cheap goods from factories in Southeast Asia. Since that time, President Donald Trump has pursued a broad strategy to impose tariffs on imported products to protect manufacturers of U.S.-made goods. The Commerce Department cannot impose tariffs unless the ITC finds that the domestic industry was harmed or threatened by overseas rivals receiving unfair subsidies and dumping products in the U.S. market. The outcome of the vote was posted in a brief notice on the ITC's web site. It was not immediately clear how each commissioner voted. The trade case was brought last year by Korea's Hanwha Qcells ( opens new tab, Arizona-based First Solar Inc (FSLR.O), opens new tab and several smaller producers seeking to protect billions of dollars in investments in U.S. solar manufacturing. "(Tuesday's) vote leaves no doubt: these Chinese-headquartered companies have been violating trade laws by overwhelming the U.S. market with unfairly cheap, dumped and subsidized solar panels - and they continue to do so from third-party markets around the world, undermining U.S. industrial strategy and stunting new investment," Tim Brightbill, the lead attorney for the petitioning group, the American Alliance for Solar Manufacturing Trade Committee, said in a statement. "This cannot stand. Our growing American industry deserves - and now will have - the chance to compete fairly," Brightbill said. The vast majority of panels installed in the United States are imported from Asia. In 2022, former President Joe Biden's signature climate change law, the Inflation Reduction Act, created a tax credit for clean energy manufacturing, and more than 100 solar factories have been announced or expanded since then, according to the American Clean Power Association trade group. A top U.S. solar trade group, the Solar Energy Industries Association, said new tariffs would actually harm domestic producers by increasing costs for panel buyers. "(Tuesday's) decision by the U.S. International Trade Commission is concerning for American solar manufacturers and the broader U.S. solar industry," SEIA President Abigail Ross Hopper said in a statement. "The USITC's final affirmative injury determination adds an additional layer of tariffs that will raise costs for the solar products American companies need to build projects and grow domestic manufacturing."
Korea Herald
23-04-2025
- Business
- Korea Herald
With new US duties on solar imports, Hanwha, OCI eye bigger market share
Korean energy companies, namely Hanwha Qcells and OCI Holdings, are expected to benefit from the United States' decision to impose tariffs of up to 3,500 percent on solar energy imports from Southeast Asia. Earlier this week, the US Department of Commerce released the final tariff amounts planned for solar cells from Cambodia, Malaysia, Thailand and Vietnam. The antidumping and countervailing duties seek to protect American solar panel manufacturing. The decision came after the American Alliance for Solar Manufacturing Trade Committee, which includes Hanwha Qcells, a solar energy unit under Korea's Hanwha Solution, Arizona-based First Solar, and other smaller energy companies, filed a petition in April last year, prompting the US authorities to begin the investigation. The group claimed that Chinese companies were producing solar products in Southeast Asia to avoid paying tariffs on their exports, and were subsidized by the governments of the four aforementioned countries. These products would then be "dumped" into the US market at low prices that other solar panel manufacturers could not compete with. As the announcement of the tariffs on Cambodia, Malaysia, Thailand and Vietnam puts pressure on China's major solar panel producers, the US solar panel supply chain will be rearranged with Korean companies becoming key players, Kang Dong-jin, an analyst at Hyundai Motor Securities, said in a report on Wednesday. 'The antidumping and countervailing duties will be added to (the US') reciprocal tariffs and (the four countries) will weaken in terms of their competitiveness in American exports,' said Kang. 'Aside from these four countries, other nations will also find it difficult to export solar cells and modules to the US.' The analyst selected Hanwha Solution as the most preferred stock in the solar energy industry as the Korean company is setting up what it calls 'Solar Hub,' a 3 trillion won ($2.1 billion) investment to establish a complete solar panel production chain in the state of Georgia. Once the Solar Hub project is completed by year-end, Hanwha will secure an annual production capacity of 8.4 gigawatts and ramp up its US production portion to 70 percent. Kang also pinpointed OCI Holdings as a stock to keep an eye on. The Korean company is investing $265 million to build solar cell production plant in Texas. OCI Holdings plans to begin commercial production of 1 GW solar cells in the first half of next year and gradually increase the capacity later to eventually reach 2 GW. 'Hanwha Qcells had been suffering due to dumped and subsidized solar panel imports from Southeast Asian countries despite investing heavily in its US production,' said an official working in the solar energy sector. 'The tariffs will give the Korean companies fair competition in the US market.' The tariffs on the Southeast Asian countries will go into effect after and if the US International Trade Commission makes a final ruling by June 2 that the American solar panel industry was harmed due to the imports from those nations.
