SHANGHAI, Nov 17 - On November 16, the US Court of International Trade (CIT) officially announced the reinstatement of the 201 tariff exemption for bifacial solar modules and the reduction of the Section 201 tariff rate from 18% to 15%. Following these two changes, the additional tariffs previously imposed will be refunded to the companies concerned.
This decision has been highly welcomed by the American Solar Energy Industries Association as it will help to reduce the costs of solar equipment installations in the US.
But clearly, this is not good news for US-based solar manufacturers, as it will intensify the competitions with their overseas counterparts. Shares of First Solar (ticker: FSLR), the largest US solar manufacturer, once fell nearly 10% on Tuesday, closing down 6.96% on the same day.
However, US photovoltaic manufacturers Auxin Solar and Suniv recently petitioned the US International Trade Commission to extend the 201 tariff for a another four years, and discussions are ongoing. The USITC is expected to submit its recommendation to President Biden in the coming weeks, who will have the final say on whether to extend the tariffs.
