JinkoSolar Comments on Final USITC Rulings on Imported Chinese Solar Products
JinkoSolar (NYSE: JKS) today commented on the final determination of injury by the United States International Trade Commission ("USITC") concerning the anti-dumping duty ("AD") and countervailing duty ("CVD") investigation of imports of crystalline silicon photovoltaic cells and modules from the People's Republic of China.
The USITC finally determined that imports of crystalline silicon photovoltaic cells and modules from China "materially injure" a U.S. industry, but the USITC did not make an affirmative determination regarding critical circumstances. As a result, the Company will face AD at 15.42% and CVD at 15.24% for the cells and modules imported into the United States after the respective date of the preliminary determinations on AD and CVD were issued by the Department of Commerce.
"We are disappointed with the International Trade Commission's final determination on the injury," commented Mr. Xiande Li, Chairman of JinkoSolar. "While the decision was partially favorable to us, we believe that this ruling will have negative effects globally and will ultimately end up hurting consumers. Trade protectionism benefits no one and will only hinder the solar market's development. Despite the circumstances, we remain