With “Amercia First” policy of US #president #Donald #Trump,
US imposed and approved the tariffs on import of the Solar Panels and goal is
to protect the local manufacturers in competition with the global Solar Panel
manufacturers.
According to the spokesman of the US administration that
they would always defend the US workers, farmers, ranchers and businessman.
In this move, the two countries i.e, China and South Korea will
be strongly affected and both have criticized these new tariffs but US administration
said tougher trade decisions would follow.
These tariffs were approved by US president Trump after US
international Trade Commission founding’s which concludes the hurting of local
manufacturers by very low #cost available imported solar panels.
Now the Tariff rise on imported Solar cells and modules in
the first year will be 30% which will reduce to 15% by the fourth year but here
2.5 gigawatts (GW) imported solar cells will be allowed and are exempted from
these tariffs.
#South #Korea and #China both have strongly reacted heatedly
to these new tariffs. South Korea is planning to complain in the World Trade
Organization (#WTO)and calling such moves is excessive and regrettable because their
manufacturers like #Samsung and #LG are competing well in the US Market.
China which is the highest solar panel manufacturer saying,
it would further harm the global trade.
Chines Government spokesman said that #Beijing stated “strong
dissatisfaction” with these tariffs.
China also cautioned that “together with other World Trade
Organization members, China will resolutely defend its legitimate interests” and
in addition the plans are “not only provoked the concern of many trading partners but also strongly opposed by many local
governments and downstream enterprises in the USA”.
In such moves, Chinese, South Korea and other global manufacturers
will now mainly focus on the #Asian and #African markets and due to these
tariffs in the USA, global prices may reduce more in the coming years. The main
focus for these manufacturers would be eastern #Europe, central and south of #Africa,
#Middle Eastern countries like #UAE and #SaudiArabia and in Asia, mainly #Pakistan,
#Bangladesh and probably #India as well. It may not compensate fully the damage
come after these new US tariffs because US is still the biggest market for many
products and appliances.
