Nicola Groom and Jarrett Renshaw of Reuters report that the US plans to restore tariffs on solar technology. They write:
The Biden administration is expected to grant a request by South Korea’s Hanwha Qcells to reverse a two-year-old trade exemption that has allowed imports of a dominant solar panel technology from China and other countries to avoid tariffs, two sources familiar with the White House plans said on Wednesday.
The news sent shares of solar manufacturers including U.S.-based First Solar (FSLR.O), higher in afternoon trade. […]
Qcells’ request is supported by seven other solar manufacturers with U.S. factories – First Solar, Heliene, Suniva, Silfab, Crossroads Solar, Mission Solar and Auxin Solar – according to the petition documents.
First Solar shares closed nearly 3% higher at $178.01 on the Nasdaq.
