U.S. sets new tariffs on Chinese solar imports [View all]

[PoliticAverse]

(Reuters) - The United States hit Chinese solar companies with punitive import tariffs of 30 percent or more on Thursday, ruling they had dumped cut-price solar panels into the U.S. market.

In the latest salvo in a series of ongoing trade disputes between Beijing and Washington, the U.S. Commerce Department said it sided with U.S.-based solar companies that had complained a wave of Chinese imports had wrongly undercut their pricing and forced several renewable players out of business.

With Thursday's move, Washington set tariffs on shipments from most of the top Chinese exporters, including Suntech Power Holdings Co Ltd and Trina Solar Ltd, at about 31 percent.

Several of the Chinese companies and a solar trade group opposed to the tariffs denounced the duties, and said they would drive up costs for the clean energy source, stunting its fast growth.

Read the rest at: http://www.reuters.com/article/2012/05/17/us-china-trade-idUSBRE84G19U20120517