Caught!
The US DOC has preliminarily completed an investigation into the bypassing of Chinese Anti-dumping tariffs on solar panels and components. The investigation ruled on eight companies, four of which were found guilty of bypass tariffs by sending panels to Cambodia, Malaysia, Thailand and Vietnam for minor modifications, and then shipping them to the US to avoid the ‘direct from China’ tariffs. Under the ruling those four countries were now designated as having potential for such illegal activities and companies operating in those countries can now attest to the fact that they are not circumventing US law as to the import and export of solar panels, as a way to exclude them from potential future liability.
The ruling did find that four companies (listed below) were circumventing tariffs in the manner noted above and could face continued import suspension, potential back tariffs, and possible ‘deposits’, if the final determination agrees with the preliminary findings, which are expected by May 1, 2023. In the interim the DOC is expecting suppliers to make sure they have discovered whether the products they are importing are not circumventing tariff on PRC products or find other sources.
BYD Hong Kong (1211.HK)–
Canadian Solar (CSIQ)
Vina Solar (601012.CH)
Trina (688599.CH)
The ruling did find that four companies (listed below) were circumventing tariffs in the manner noted above and could face continued import suspension, potential back tariffs, and possible ‘deposits’, if the final determination agrees with the preliminary findings, which are expected by May 1, 2023. In the interim the DOC is expecting suppliers to make sure they have discovered whether the products they are importing are not circumventing tariff on PRC products or find other sources.
BYD Hong Kong (1211.HK)–
Canadian Solar (CSIQ)
Vina Solar (601012.CH)
Trina (688599.CH)
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