The US has imposed duties of up to 3521% on imports of solar panels from Cambodia, Vietnam, Malaysia and Thailand, Bloomberg writes.
For Cambodia will be set tariff at 3521%, and for manufacturers from Malaysia duties are 34.4%, Vietnam – 395.9%, Thailand – 375.2%.
According to the news agency, $12.9 billion worth of solar panel equipment was shipped to the US from these four Asian nations in 2024 – 77 per cent of total imports of such goods.
The duties announced Monday are the culmination of a year-long trade investigation that found manufacturers in Cambodia, Vietnam, Malaysia and Thailand are unfairly benefiting from government subsidies and selling exports to the U.S. at rates below the cost of production. The investigation was launched by domestic solar panel manufacturers under former President Joe Biden.
While the duties are intended to benefit domestic manufacturers, they will also hurt renewable energy developers in the US who have long relied on low-cost foreign supplies, adding to uncertainty in a sector hit by political changes in Washington, the publication said.
The duties would be in addition to new wide-ranging duties imposed by US President Donald Trump.