BECO 5.59 Decreased By ▼ -0.24 (-4.12%)
BML 61.03 Increased By ▲ 3.13 (5.41%)
BOP 33.25 Decreased By ▼ -0.54 (-1.6%)
CNERGY 8.05 Decreased By ▼ -0.10 (-1.23%)
DCL 11.30 Decreased By ▼ -0.49 (-4.16%)
FCCL 52.93 Decreased By ▼ -0.56 (-1.05%)
FCSC 5.34 Decreased By ▼ -0.06 (-1.11%)
FFL 17.61 Decreased By ▼ -0.23 (-1.29%)
FNEL 1.31 Increased By ▲ 0.01 (0.77%)
HUMNL 11.12 Increased By ▲ 0.01 (0.09%)
KEL 7.89 Decreased By ▼ -0.13 (-1.62%)
KOSM 5.33 Decreased By ▼ -0.12 (-2.2%)
MLCF 85.35 Decreased By ▼ -2.05 (-2.35%)
NBP 181.29 Decreased By ▼ -2.95 (-1.6%)
PACE 11.53 Decreased By ▼ -0.09 (-0.77%)
PAEL 39.41 Decreased By ▼ -0.84 (-2.09%)
PIAHCLA 25.63 Decreased By ▼ -0.49 (-1.88%)
PIBTL 17.15 Increased By ▲ 0.01 (0.06%)
PPL 224.82 Decreased By ▼ -3.91 (-1.71%)
PRL 34.18 Decreased By ▼ -0.31 (-0.9%)
PTC 65.08 Decreased By ▼ -2.46 (-3.64%)
SEARL 89.60 Decreased By ▼ -1.33 (-1.46%)
SSGC 26.31 Decreased By ▼ -0.52 (-1.94%)
TELE 8.38 Decreased By ▼ -0.15 (-1.76%)
THCCL 69.34 Increased By ▲ 3.20 (4.84%)
TPLP 10.28 Increased By ▲ 0.95 (10.18%)
TREET 24.20 Decreased By ▼ -0.31 (-1.26%)
TRG 69.54 Decreased By ▼ -2.07 (-2.89%)
WAVES 11.03 Increased By ▲ 0.05 (0.46%)
WTL 1.27 Decreased By ▼ -0.01 (-0.78%)
Top News

China firms knock US duties on solar products

Published March 21, 2012 Updated March 21, 2012 06:43am

firmsqSHANGHAI: Chinese firms have accused the United States of setting up trade barriers after Washington slapped duties on their solar products in the latest trade row between the two countries.

Washington said Tuesday it would collect duties of between 2.9 and 4.7 percent on Chinese solar cells and panels, in a preliminary ruling following an investigation over whether producers received unfair financial support.

US companies have accused China of improperly subsidising its solar sector as part of a no-holds-barred commercial battle for supremacy of the lucrative market.

But Chinese makers denied the findings and accused the United States of erecting obstacles to trade.

China's Suntech, the world's largest solar panel producer, said its success was based on "free and fair" competition.

"Unilateral trade barriers, large or small, will further delay our transition away from fossil fuels," Chief Commercial Officer for Suntech Andrew Beebe said in a statement provided to AFP on Wednesday.

Another Chinese company, Yingli Solar, defended its business practices. "We are not dumping (predatory pricing), nor do we believe that we are unfairly subsidised," Robert Petrina, managing director of Yingli's US subsidiary, said in a statement.

The US Department of Commerce is due to announce more findings in May for a parallel investigation into whether Chinese makers are dumping underpriced solar cells into the United States.

China's commerce ministry did not immediately respond to a request for comment on the dispute.

The US moves come as Washington steps up efforts to protect domestic manufacturers from Chinese products that it also alleges benefit from an artificially undervalued currency.

Last month, US President Barack Obama took direct aim at China when he ordered the creation of the Interagency Trade Enforcement Center to expedite unfair trade complaints from US business.

The United States this week also confirmed duties on steel wire and brightening agents used in paper production from China.

Copyright AFP (Agence France-Presse), 2012

Comments

Comments are closed for this article.