EU readies heavy tariff on China solar panels

EU

The European Commission agreed on Wednesday to impose punitive import duties on solar panels from China in its boldest move yet to protect against what it sees as Chinese dumping of cheap goods in Europe. EU commissioners backed EU Trade Chief Karel De Gucht’s proposal to levy the provisional duties by June 6 and make Chinese solar exports less attractive in Europe, Reuters reported citing two officials. European solar panel makers complained that they are being undercut by cheap Chinese imports, jeopardizing their future as Beijing seeks to corner the market in a key green technology. EU producers say Chinese solar panel production quadrupled between 2009 and 2011 and Chinese companies have captured more than 80% of the European market from almost zero a few years ago, exporting €21 billion ($27 billion) to the European Union in 2011. As a result, Chinese-made panels are as much as 45% cheaper than those made in Europe.

ADVERTISEMENT

MNB Int'l Reserves Climb EUR 1.553 bln in January MNB

MNB Int'l Reserves Climb EUR 1.553 bln in January

IMF Urges Hungarian Authorities to Carry out Structural Refo... Government

IMF Urges Hungarian Authorities to Carry out Structural Refo...

GTC to Save 500 MWh a Year in Váci Greens D Sustainability

GTC to Save 500 MWh a Year in Váci Greens D

Mangalitsa Promotional Campaign Kicks Off Food

Mangalitsa Promotional Campaign Kicks Off

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.