A U.S. judge in charge of trade issues on Thursday upheld a recent announcement by President Trump allowing tariffs to be reimposed on some imported solar panels, a victory for U.S.-based manufacturers. Double-sided technology has a small but rising share of the solar panel market. They cost more than traditional panels, but can generate more electricity. U.S. solar stocks stock market rallies as judge voices support.
U.S. President Donald Trump’s revocation of tariff exemptions on imported solar panels was backed by a judge, according to Reuters news agency. In a statement announced on October 10, Trump said the exemption “would undermine and likely continue to weaken the effectiveness” of tariffs designed to boost the domestic solar industry “in light of the increased imports of competing products.
Judge Gary Katzmann of the U.S. Court of International Trade said Trump’s decision to revoke the tariff exemption for double-sided solar panels does not conflict with previous court rulings that upheld the exemption because it was based on a different law.
First Solar Inc FSLR.O closed 2.5 percent higher on Thursday, while SunPower Corp SPWR.O closed 5.9 percent higher, Reuters said, adding that shares of U.S. solar panel makers surged after the judge’s decision was announced.
Recent Comments