Summary
The U.S. government is planning to place high fees on solar panels that are coming from four countries in South East Asia. This move is in response to claims that these countries are getting help from China and selling the panels in the U.S. at very low prices. The final decision about these fees will be made in June.
Key Facts
- The U.S. Commerce Department plans to place fees, or tariffs, on solar panels brought in from Cambodia, Thailand, Malaysia, and Vietnam.
- This decision comes after a year-long investigation triggered by complaints from several big solar equipment companies in the U.S.
- These companies claim that Southeast Asian countries are selling too many cheap products in the U.S.
- The highest tariff, 3,521%, is planned for some solar panel sellers in Cambodia.
- The products that Chinese company Jinko Solar makes in Malaysia have a much lower expected tariff of about 41%.
- China-based company Trina Solar may see a tariff of 375% on their products from Thailand.
- In 2023, the U.S. imported nearly $12 billion worth of solar equipment from these four Southeast Asian countries.
- These additional tariffs could make solar panels more expensive in the U.S., impacting businesses and users who relied on cheaper products.
- A 10% tariff is already placed on all items coming from other countries until July.
