Talks urged in solar panel dispute
May 31, 2012 Category Alternative energy, Environment
Major Chinese solar panel makers, facing punitive tariffs imposed by the United States, appealed for a “peaceful solution” as the Sino-U.S. trade dispute on renewable energy seemed to be escalating. The Ministry of Commerce (MOFCOM) announced it found the U.S. government provided renewable-energy companies with unfair grants prohibited under World Trade Organization (WTO) rules. The Chinese government will extend an investigation of the subsidy for three months, in what market watchers described as a retaliatory move to Washington’s introduction of anti-dumping tariffs of 31% to 250% on Chinese solar panels. Chinese solar companies urged Beijing to avoid a trade war and iron out the trade dispute through talks. Yingli and Suntech Power, the world’s largest producer of solar panels, are among the 14 companies that formed an alliance in Shanghai to protect the embattled PV sector. Suntech Chief Executive Shi Zhengrong told a press conference that he was confident the U.S. Department of Commerce would scrap the punitive measure against Chinese firms. To make the finished product, Chinese solar companies import materials and purchase U.S. technologies worth a combined USD5 billion a year. Shi said Europe could follow the U.S. in introducing anti-dumping duties on Chinese companies, which could deal a still heavier blow. Europe accounts for about 70% of sales for many Chinese solar companies.
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