Exclusive: President Joe Biden will declare a 24-month tariff exemption on Monday for solar panels from four Southeast Asian nations after an investigation froze imports and stalled projects in the United States
The move comes amid concern about the impact of the Commerce Department's months-long investigation into whether imports of solar panels from Cambodia, Malaysia, Thailand and Vietnam are circumventing tariffs on goods made in China.
State governors, lawmakers, industry officials and environmentalists have expressed concern over the investigation, which could have led to retroactive tariffs of up to 250 percent. A second source said Biden's proclamation, relying on authority from a 1930 trade law, would apply only to the four countries and run in parallel with the investigation.
The investigation essentially halted the flow of solar panelsthat make up more than half of U.S. supplies and 80 percent of imports. "During the two-year tariff suspension window, the U.S. solar industry can return to rapid deployment while the Defense Production Act helps grow American solar manufacturing."Biden has previously invoked the DPA to tackle a shortage of infant formula in the United States, ramp up domestic output of key minerals for electric vehicle batteries, and fight the COVID-19 pandemic through tests and vaccine production.
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EXCLUSIVE Biden to waive tariffs for 24 mths on solar panels hit by probe -sourcesPresident Joe Biden will declare a 24-month tariff exemption on Monday for solar panels from four Southeast Asian nations after an investigation froze imports and stalled projects in the United States, sources familiar with the matter told Reuters.
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