JinkoSolar (NYSE:JKS) closed -5.6% on Wednesday following a Bloomberg report that solar cells and modules imported into the U.S. from the company’s affiliates in Malaysia could be subject to a higher anti-subsidy duty due to an alleged miscalculation in an ongoing trade investigation.

The U.S. Department of Commerce’s International Trade Administration (ITA) today issued its preliminary determination of countervailing duties to be imposed on crystalline silicon photovoltaic cells imported from Cambodia, Malaysia, Thailand, and Vietnam. Commerce imposed the subsidy rates in response to cases brought by The American Alliance for Solar Manufacturing Trade Committee in April 2024.

The Commerce Department issued an initial decision Tuesday siding with U.S. solar manufacturers that allege solar panel imports from four Southeast Asian countries are circumventing U.S. trade laws.

As part of the finding, the department also outlined preliminary duties that will take effect for producers in the four countries.

The Dept. of Commerce today released its preliminary affirmative determination in the countervailing duty (CVD) case relating to solar cell imports from Southeast Asia. After an affirmative determination from the U.S. International Trade Commission in June that the U.S. solar panel manufacturing industry is being materially injured by imports of silicon solar cells and panels from Cambodia, Malaysia, Thailand and Vietnam, Commerce has been working on the tariff amounts to apply.

The American Alliance for Solar Manufacturing Trade Committee filed critical circumstances allegations with the U.S. Department of Commerce regarding surges of solar imports from Vietnam and Thailand that are injuring the U.S. solar industry. The Trade Committee based its allegations on a 39% increase in imports from Vietnam and a 17% increase from Thailand between April and June 2024, when compared to January and March 2024.

A two-year U.S. tariff holiday on solar panels from Southeast Asia expires on Thursday, starting the clock ticking for American project developers to use the huge amount of equipment they stockpiled duty-free over that period by the end of this year.

A two-year U.S. tariff holiday on solar panels from Southeast Asia expires on Thursday, starting the clock ticking for American project developers to use the huge amount of equipment they stockpiled duty-free over that period by the end of this year.

Tariffs aimed at protecting America’s solar industry from foreign competition snapped back into place on Thursday, ending a two-year pause that President Biden approved as part of his effort to jump-start solar adoption in the U.S.

The Inflation Reduction Act gave new life to America’s ability to innovate and manufacture solar components, so we can quickly, sustainably and reliably deploy solar at the scale needed to address the climate crisis.