Judge overturns Trump decision to end tariff exemption for imported solar panels -Breaking
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© Reuters. FILEPHOTO: Donald Trump, former President of the United States, reacts to his speech in Des Moines at Iowa States Fairgrounds, Iowa. October 9, 2021. REUTERS/Rachel MummeyNEW YORK, (Reuters) – A U.S. judge who oversees trade issues on Tuesday reversed a former president Donald Trump’s decision to permit reimposition tariffs on imported solar panels.
Some domestic manufacturers will be disappointed by the decision of Judge Gary Katzmann of U.S Court of International Trade.
This was one year after Trump’s Oct 2020 decision not to revoke a tariff exemption that allowed double-sided (or bifacial) solar panels violated an earlier court ruling.
Katzmann pointed out that Trump’s proclamation was an “incorrect interpretation” of trade law and it “constituted an action beyond the President’s authority.”
Following the U.S. decision, some U.S. panel manufacturer shares fell. Evening trading was dominated by the decision. First Solar Inc (NASDAQ) fell 8.6% while SunPower Corp (NASDAQ) dropped 2%
The Solar Energy Industries Association and developers, a trade association, had challenged Trump’s proclamation in December 2017. They accused him of impositioning tariffs without going through all the necessary procedures.
Although it is still a relatively small market in the world of solar panels, bifacial technology has been growing rapidly. It costs more than traditional panels but can produce greater power.
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