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Chuanmei has raised countervailing duties on Chinese PV products
REVIEW: After making a preliminary countervailing duty (CVD) award for three months, according to reports, the US Department of Commerce (DOC) has increased countervailing duty Chinese solar PV manufacturers, Chinese solar PV manufacturers will export to the US solar A higher countervailing duty is required. Keyword photovoltaic solar Suntech three months after making a preliminary countervailing duty (CVD) ruling, it is reported that the US Department of Commerce (DOC) has increased the countervailing duty rate of Chinese solar PV producers, and Chinese solar PV producers export to the US Solar cells will be subject to higher countervailing duties. According to Jefferies, the US Department of Commerce found that Chinese producers who were under investigation had been privately reducing electricity project prices and accepting “illegal†subsidies. As a result, Suntech's countervailing duty rate rose from 2.9% to 3.44%, and Trina's countervailing duty rate increased from 4.73% to 5.81%. For the remaining Chinese solar PV producers, the countervailing duty rates they have to bear must be implemented at 3.6% set in March. However, because the average tax rate of Wuxi Suntech and Trina Solar has been raised, their tax rate will also rise. This week, the US Department of Commerce has begun a formal audit process for Wuxi Suntech and Trina Solar. If the audit results confirm the ruling of the Ministry of Commerce, and the US International Trade Commission (ITC) unanimously ruled that solar cells imported from China substantially harm or substantially threaten the US solar PV industry, the US International Trade Commission will issue a countervailing duty bill. The US International Trade Commission is scheduled to make a final judgment on July 19. Jefferies analysis said that although the news is not optimistic, the impact is expected to be “minimizedâ€. We forecast that the total countervailing duty imposed on Chinese suppliers in the first quarter of 2012 will increase from $25.2 million to $28.7 million, industry analysts said. They also stated that the judgment on anti-dumping duties is more important. The preliminary ruling was made on May 17, but the Ministry of Commerce will not be able to make a final ruling until early October, and the US International Trade Commission will make a final ruling on November 19. Analysts continue, “We predict that if the anti-dumping tax plus the cost of countervailing duties exceeds 15%, the result may be similar: from solar cells purchased from Taiwan, we predict a cost increase of $0.06-0.09 per watt. However, the tax rate The increase will eventually fall to the Chinese producers, and these tax decisions cannot be cancelled." The news has been widely reported that Taiwan will become the main beneficiary of Sino-US trade cases. Ironically, Chinese producers are looking for other Asian countries to produce their solar cells. "Photovoltaic Magazine" wrote on May 23 that Taiwan is expected to serve as the pillar of the "winter" of the photovoltaic industry, but some skeptics question the validity of this pillar. “Finally, they also mentioned that the role of the ruling in solving the core problems of the industry – overcapacity in the market – is limited. In fact, some analysts believe that this (ruling) may make the situation worse.†by Tim Ferry wrote. From June 13th to 15th, at the solar energy technology fair (intersolar Europe) held in Munich, Germany, Taiwan's solar cell manufacturer TSEC (Taiwan Solar) told the Photovoltaic Magazine that since the initial anti-dumping judgment, the company received Orders in mainland China have increased by 20% to 30%. This situation is normal for most Taiwanese producers, Robin Chien said. However, he believes that this boom will not last long – only three to six months. He said that in terms of maternity, mainland Chinese producers will seek other solutions, including starting other production bases outside of China or cooperating with companies in other countries and regions. European trade disputes Although speculated, there were no European trade disputes during the Intersolar trade fair. However, Jefferies still has confidence in the rapid outbreak of European trade disputes. The impact of a European trade case on producers may be “greaterâ€, analysts said, because the European market accounts for about 70% of the global solar PV market demand, while the US only accounts for about 10%.