Impact of #US tariffs 2018 on import of #Solar #Panels

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.