The US plans to impose new tariffs on solar products imported from four Southeast Asian countries. Trading in the spot market was sluggish. [SMM Tin Morning News]

April 22, 2025 SMM Tin Morning Brief: The US plans to impose new tariffs on solar products imported from four Southeast Asian countries. The US announced new tariffs on solar products imported from Cambodia, Malaysia, Thailand, and Vietnam. According to a decision published on the US Department of Commerce website on Monday local time, the agency calculated anti-dumping duties on solar products from these four Southeast Asian countries ranging from 6.1% to 271.28%, depending on the company and country. Countervailing duties ranged from 14.64% to 3,403.96%. These four countries currently supply about 77% of the US PV modules, with solar equipment exports to the US totaling $12.9 billion last year. This tariff decision is the final result of a one-year trade investigation. The investigation was initiated by domestic US solar manufacturers and launched by former President Biden. While domestic manufacturers view this as a victory, the new tariffs may exacerbate cost pressures in the renewable energy industry, which is already facing policy shifts and economic headwinds. The Trump administration is attempting to revive the fossil fuel industry and continues to cut support for green projects. Spot market: The spot market was relatively quiet yesterday. Most traders reported transactions of around 10 mt, and as prices rose, many companies began to adopt a wait-and-see approach, with some companies conducting small-scale restocking for essential needs.