Thursday, October 11, 2012

US sets steep duties on Chinese solar panels


 
Source: Press TV
http://www.presstv.ir/usdetail/266053.html

China demanded Thursday that Washington repeal steep tariffs on solar panels that Chinese producers fear will shut their equipment out of the American market.

The tariffs upheld Wednesday by the U.S. Commerce Department add to financial pressure on struggling Chinese solar panel manufacturers that are suffering heavy losses due to weak demand and a price-cutting war.

"The United States is inciting trade friction in new energy and sending a negative signal to the whole world about protectionism and obstructing the development of new energy development," Ministry of Commerce spokesman Shen Danyang said in a statement. It gave no indication whether Beijing might retaliate.

"We hope the U.S. side will correct its erroneous action with early termination of the trade remedy measures," Shen said.

The dispute highlights tensions over whether China's government-dominated economy should be treated as a free market. Beijing has pressed the United States and Europe to officially grant such status, which would make it harder to bring some dumping and other complaints, but none of its major trading partners has agreed.

Beijing launched its own probe last November into whether U.S. government support for producers of wind, solar and other renewable energy technology is an improper trade barrier.

In August, the Commerce Ministry ruled that U.S. support for six clean energy projects violated free trade rules and called on Washington to stop but made no mention of possible penalties. Businessweek

FACTS & FIGURES

On Monday, October 8, the U.S. House Intelligence Committee warned that China's two leading technology firms pose a major security threat to the United States. Financial Review

The panel says regulators should block mergers and acquisitions in the U.S. by Huawei Technologies and ZTE Corp. It also advises that U.S. government systems not include equipment from the two firms, and that private U.S. companies avoid business with them. Financial Review

The U.S. is in the midst of a deep economic crisis. Devoid of any real solutions to put forward, U.S. politicians are instead looking for a scapegoat which these days happens to be China. The National

U.S. politicians are largely declaring "China is cheating" and engaging in "rogue practices." With no end in sight for the U.S.' economic malaise, the anti-China protectionist sentiment is likely to continue and spread into other sectors, especially as next year's presidential elections come closer. The National

1 comment:

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