FX.co ★ US Sets Up to 3,521% Tariff on Import of Southeast Asian Solar Panels

The United States has revealed plans to implement tariffs reaching up to 3,521% on solar panel imports originating from four Southeast Asian nations. This strategy is intended to address concerns over supposed Chinese subsidies and dumping within the industry. The tariffs will target companies located in Cambodia, Thailand, Malaysia, and Vietnam. However, before the Department of Commerce can enforce them, these tariffs must be ratified at a forthcoming International Trade Commission meeting in June, which is an independent US government body. This planned action was announced shortly after Chinese President Xi Jinping concluded his visits to Vietnam, Malaysia, and Cambodia.