Say it ain’t pho: Vietnam Accused Of Dumping Solar panels into the American market
The U.S. Commerce Department has accused China of dumping solar products into the American market. However, not all of those products originate in China. In this case, they hail from Vietnam.
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To get around American tariffs on their goods, Chinese solar firms have erected factories in Malaysia, Thailand, Vietnam and Cambodia, which face my lower U.S. import taxes, if any. The Commerce Department says that because of the Chinese runaround, dumping duties for these should be 21% to $271%.
This dumping hurts the solar industry in the U.S. However, if cheap panels cannot be imported, costs go up for American solar companies.
Profits threatened
The federal government’s argument, which could grow under a Trump administration, is that low-priced Chinese products harm American solar panel companies’ profits.
However, solar installers say that low-priced goods will force U.S. companies to operate more efficiently to match Chinese prices. Many American firms, pointing to much higher American labor costs, say that is impossible.
More news, no doubt, on this when Donald Trump sits behind his Oval Office desk.
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