Climate Changed
World’s Biggest Solar Players Say Trump's Tariffs Could Have Been Worse
- China’s JinkoSolar says 30% tariff is ‘better than expected’
- Hanwha Q Cells plans to diversify sales to avoid U.S. duties
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Solar companies from the U.S. to Asia were breathing a collective sigh of relief on Tuesday after President Donald Trump announced tariffs on U.S. imports that, at 30 percent, were lower than most companies had feared.
In China and South Korea, panel makers had been bracing themselves for a bigger blow since October, when the U.S. International Trade Commission recommended a 35 percent tariff. JinkoSolar Holding Co., the world’s largest producer of solar panels and China’s biggest exporter, called the levy announced Monday “better than expected.” The main U.S. solar trade group, which has warned of massive job losses and billions of dollars of investments killed, said the decision showed “some restraint.”