Solar stocks rallied Friday after the US ruled that some foreign manufacturers are evading tariffs in a decision that wasn’t quite as harsh as investors feared.
While the US Commerce Department findings could lead to duties as high as 254%, investors were anticipating tougher conditions. Four of the firms investigated were found not to have evaded tariffs, including one tied to JinkoSolar Holding Co., which soared as much as 13% in US trading. Smaller companies implicated in the probe can avoid tariffs by certifying their products are free of Chinese components, giving US developers a path to keep buying panels from Southeast Asia and help build the American industry.
