You can bet that the new Chinese leader Xi Jinping will not like this. The European Union decided to impose a tariff on Chinese solar panels. The duty, controversial within the EU, is set at 11.6 percent effective until August 6, when it will rise to 47.6 percent, according to a European Commission press release. Tensions are rising between the EU and China. The tariff was issued in response to evidence that Chinese companies are dumping solar panels, or selling them at unfairly low prices. The EU is not the first to impose tariffs to punish the alleged dumping of Chinese solar panels. The United States imposed its own solar panel tariffs back in the Fall of 2012. With the EU and U.S. tariffs in place, the next move will be China's. Any agreement reached would likely require China to abide more closely to international trade laws, and for the EU and the U.S. to lower the tariffs. The solar industry will watch closely during the summer months for talks to avoid an all-out trade war.
More...
More...
Comment