U.S. Solar Companies Get A Bump Following Tariff Decision
The Commerce Department on Tuesday announced that it will be imposing tariffs on certain Chinese-made solar panels. The duties range from 18.56 to 35.21 percent and come after the Commerce Department determined the companies have benefited from government subsidies.
Following the U.S. decision, the Chinese government expressed its extreme dissatisfaction over the newly-imposed tariff and has urged the U.S. government to cease its investigations as soon as possible.
The Chinese Commerce Ministry has said on its website that the new U.S. policy "won't solve the problems of the U.S. solar industry." Additionally, Chinese officials have claimed that the U.S. ignored the facts in an attempt to protect its solar industry.
On the other side, a number of Chinese solar companies have taken a hit in Wednesday's pre-market session. Specifically, JinkoSolar (NYSE: JKS), Yingli Green Energy (NYSE: YGE) and Trina Solar Limited (NYSE: TSL) were down ~9, ~7, ~6 percent, respectively.
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