Trina Solar and Suntech Power Shares Fall as "Anti-Dumping" Tariffs Upheld
The Paragon Report Provides Stock Research on Trina Solar and Suntech Power
NEW YORK, NY--(Marketwire - Nov 12, 2012) - Solar stocks have experienced major volatility in 2012 as complaints from several U.S. solar-equipment manufacturer regarding China's "dumping" measures have led to hefty tariffs on Chinese solar products. Europe has also recently begun an investigation in to "dumping" measures from China which could eventually lead to tariffs of their own. The Paragon Report examines investing opportunities in the Solar Industry and provides equity research on Trina Solar Ltd. (NYSE: TSL) and Suntech Power Holdings Co., Ltd. (NYSE: STP).
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The U.S. International Trade Commission last week unanimously upheld the duties placed on imports from Chinese solar companies. The duties, ranging from 18.32 percent to 249.96 percent, have caused a split within the U.S. solar industry as some believe higher import prices will lead to higher production costs and unemployment.
"Unilateral tariffs and a trade war in today's interconnected global marketplace are unnecessary and detrimental to effective and efficient business competition," wrote Jigar Shah, president of the Coalition for Affordable Solar Energy, whose group opposes the tariffs. "We will continue to encourage dialogue and negotiation between the U.S. and Chinese governments to seek a constructive resolution."
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China currently produces approximately 65 percent of the world's solar panels, with Europe being their largest export market. The European Commission last week began an investigation to decide if Chinese manufacturers sold solar products below costs in Europe. That "anti-dumping investigation" covers imports with an estimated value of $27 billion.
"The European Commission has found that there is sufficient prima facie evidence to warrant the opening of an investigation," it said in a statement.
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