China says U.S. tariff extension on solar products hurts new energy trade -Breaking
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© Reuters. FILEPHOTO: Solar panels and turbines can be seen at the State Power Investment Corporation’s (SPIC), Zhangjiakou in Hebei province on October 29, 2018. REUTERS/Stringer SHANGHAI, (Reuters) – The U.S.’s extension of tariffs for solar products distorts global trade and inhibits the development clean, low-emission electricity, China’s commerce minister said Saturday.
Thursday’s tariff increase by President Joe Biden for import solar equipment was extended to 4 years. He did however relax the terms in order to exempt bifacial power panels, which generate energy on both sides and are essential among large U.S.-based projects.
Donald Trump used section 201 from a 1974 trade law to impose tariffs on solar imported products in 2018. These levies were originally set at 30% but declined to 15%.
China’s Ministry of Commerce released a statement saying that “The U.S. government insists on expanding the section201 measures despite strong objections from related parties at the home and abroad. They not only don’t help the healthy development of U.S. industries but also distort international trade in photovoltaics, a new product,.”
China expressed optimism that the United States would “concretely take” action to allow free trade of new energy products, and to “contribute towards the global development a low-GHG emission economy.”
China’s growing protectionist attitude abroad and rising demand have driven solar producers to increasingly focus on their home markets.
China’s annual solar output grew to 306.6 GW, a new record of 54.9 gigawatts. The goal is to increase the combined wind and solar power capacities to 1,200 GW by 2010, up from 635GW last year.
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