US solar panel makers seek new tariffs to protect domestic factories

Rec Silicon ASA

24/04/2024 15:55

April 24 (Reuters) - Some of the world's largest solar
equipment makers on Wednesday asked President Joe Biden's
administration to impose steep tariffs on panels and cells from
four Asian countries as they seek to protect billions of dollars
in investments in U.S. manufacturing.
    Seven companies - Korea's Hanwha Qcells  000880.KS ,
Switzerland's Meyer Burger  MBTN.S , Norway's REC Silicon
 RECSI.OL  and U.S. companies First Solar Inc  FSLR.O , Convalt
Energy, Mission Solar and Swift Solar - are behind the petitions
filed with the U.S. Department of Commerce and the International
Trade Commission, they said in a statement.
    The group, named the American Alliance for Solar
Manufacturing Trade Committee, is accusing Chinese companies
with factories in Malaysia, Cambodia, Vietnam and Thailand of
flooding the U.S. market with panels priced below their cost of
production. That has caused prices to collapse by more than 50%,
threatening their U.S.-made products, they said.
    The petitions come as the Biden administration has voiced
concerns in recent weeks over China's massive investment in
factory capacity for clean energy goods. 

 (Reporting by Nichola Groom
Editing by Tomasz Janowski)
 ((nichola.groom@thomsonreuters.com;))