Analysts warn investigation could backfire if producers found guilty of ‘backdoor dumping’
The US is launching an investigation into whether Chinese solar equipment manufacturers are evading tariffs by sending components to other Asian nations for assembly before exporting the finished products.
“We see severe implications for the US solar industry,” Jeffrey Osborne, an analyst at Cowen & Co, said in a note. “There is limited domestic supply to offset the supply loss.” Some solar advocacy groups warn the inquiry could drive up prices and undermine President Joe Biden’s action on climate change by slowing the pace of clean energy installations.
“This will boomerang on itself and hurt the US’s own interests,” he said during a regular press conference on Tuesday. Some solar manufacturing advocates have argued that a combination of tough trade enforcement and tax incentives are needed to help bolster the production of clean-energy equipment inside the US. They hailed the department’s decision.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Joint military drills : Philippines, U.S. hold biggest military exercises in seven yearsMANILA, March 28 (Reuters) - The Philippines and the United States kicked off on Monday their biggest joint military drills since 2015, underscoring improved defence ties after President Rodrigo Duterte had scaled back some earlier war games to pursue warmer ties with China.
Read more »
Business Maverick: U.S. Big Cap Stocks Turn Into World’s Top Haven as Risk RisesInvestors are scrambling for safety as risks mount, from the war in Ukraine to rising interest rates and a global recession. They have found it in the U.S. stock market -- particularly the biggest American companies.
Read more »
Biden 'gaffe' on Putin scrambles US message on UkrainePresident Joe Biden's apparent call for Vladimir Putin's exit reverberated instantly around the world, sparking an administration rush to course-correct -- and risks scrambling US efforts to rally a united front on the Ukraine conflict.
Read more »
Gold drops as dollar index gains and US Treasury yields hold firmPotential Russia-Ukraine peace talks this week further dim bullion’s safe-haven appeal
Read more »
Trump 'more likely than not' obstructed Congress - US judgeThe judge's ruling may increase pressure on Attorney General Merrick Garland to bring charges against the 75-year-old Trump over the storming of the Capitol.
Read more »