Business

Firms advised to stay cautious despite US’s tariffs exemption on solar panels

The Trade Remedies Authority has recommended businesses stay cautious after US President Joe Biden's announcement on June 6 on tariff exemption for solar panels imported from Vietnam, Cambodia, Malaysia and Thailand, urging them to continue to review their export of products subject to the US’s anti-circumvention investigation.
Firms advised to stay cautious despite US’s tariffs exemption on solar panels ảnh 1At a solar power project in Vietnam (Photo: VNA)
Hanoi (VNA) – The Trade Remedies Authority hasrecommended businesses stay cautious after US President Joe Biden's announcement on June 6 on tariff exemption for solar panels imported from Vietnam, Cambodia, Malaysia and Thailand, urging them to continue to review their export of products subject to theUS’s anti-circumvention investigation. 

The exporters should carefully study related regulations andprocedures, and seriously and fullycomply with the requirements made by US investigation agency as well as closelycoordinate with the Vietnamese authority throughout the course of the case, itnoted.

On June 6, US President Joe Biden also declared a state of emergency related to a shortage of domestic supply of solar cells and modules for solar power generation. He authorised the Secretary of Commerce to consider appropriate action allowing a 24-month tariff exemption for solar panels imported from Vietnam, Cambodia, Malaysia and Thailand. The move aimed to ensure the US has access to a sufficient supply of solar modules to meet electricity generation needs while domestic manufacturing scales up.
 
Earlier, in March, the US Department of Commerce (DOC) beganan investigation to determine if solar cells and modules imported from thefour Southeast Asian nations are circumventing existing antidumping andcountervailing tariffs on those from China.

According to the Trade Remedies Authority of Vietnam, thecase is still underway, with no official conclusion issued yet. Therefore, theUS’s anti-dumping and anti-subsidy measures are not imposed on products importedfrom Vietnam at the moment.
If a decision on imposing these measures is made,the application will be possibly postponed to June 6, 2024 or until the state of emergency is lifted (whichever comesfirst)./.
VNA
#Trade Remedies Authority #tariff exemption #solar panels imported from Vietnam #Joe Biden #vietnam #vietnam news agency #vietnamplus
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