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Premier Energies and Waaree Energies shares are in focus on Tuesday’s trading session following the US’s decision to impose anti-dumping duties on solar equipment imports from four Southeast Asian nations. On Monday, the US implemented new tariffs that can reach as high as 3,521% on imports from Cambodia, Vietnam, Malaysia, and Thailand, stemming from an investigation that started during former President Joe Biden's administration. This inquiry was initiated at the request of solar manufacturers based in the US, according to news report.
Countrywide tariffs for Cambodia were established at a staggering 3,521% due to the nation's choice to cease its participation in the investigation, as stated by the Commerce Department in a news report. For companies not specified in Vietnam, tariffs could reach as high as 395.9%, while Thailand's rate is set at 375.
2%. In Malaysia, the countrywide rates were recorded at 34.4%.
Jinko Solar faces duties of approximately 245% for exports from Vietnam and 40% for those from Malaysia. Trina Solar is subject to levies of 375% in Thailand and over 200% from Vietnam. JA Solar modules exported from Vietnam may incur duties of around 120%.
As per reports, according to BloombergNEF, the United States imported $12.9 billion worth of solar equipment last year from these four nations that will be impacted by the new tariffs, accounting for about 77% of total module imports. (more to come).
