Green friendly house with solar panels

Tariffs Lifted on Southeast Asian Solar Products

Two-Year Reprieve

The Biden Administration announced a 24-month pause for tariffs on imports of solar panel products from Cambodia, Malaysia, Thailand, and Vietnam. Tariffs on imports from China and Taiwan will remain unchanged. Shares of solar energy companies popped on the news.

This comes on the heels of a US Commerce Department probe concerning whether China was circumventing anti-dumping rules by channeling its sales through other southeast Asian countries. The uncertain outcome of the investigation coupled with ongoing supply-chain disruptions stalled out progress in the development of solar energy solutions.

Bridge to Clean Energy

The tariff reprieve was cheered by clean energy supporters. With the spike in world energy prices triggered by Russia’s invasion of Ukraine, criticism of the tariffs has increased. As suppliers are permitted to trade more freely and investment in the space resumes, the White House expects to reduce its carbon footprint.

The Administration has referred to the two-year plan as a bridge serving to boost solar product supply.

Delayed Reckoning

Domestic suppliers are unlikely to cheer the plan, as they will face heightened competition from southeast Asia. The Biden administration plans to support these US firms by labeling domestic products with “super preference status.” It will also implement the Defense Production Act to spur US production in the solar space.

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James Flippin ABOUT James Flippin James Flippin is the son of a financial advisor who grew up hearing and learning about bond yields, interest rates, the stock market, and the ins and outs of Wall Street. After stints as a licensing and business broker for Marcus and Millichap in New York City, James moved into broadcasting and became a reporter and anchor. He covered crime, politics, finance, and tech at NBC News Radio while working part-time as a producer for SiriusXM. James graduated from the University of Delaware with a bachelor’s degree in political science and economics. He's also an accomplished podcaster with over 10-years of experience.

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