The European Union is planning to impose import taxes on Chinese-made solar panel equipment in a move which is likely to trigger “one of the largest trade battles of recent decades,” writes the business daily.
The duties, which will include solar panels, their primary components, solar cells and silicon wafers, are expected to average 46 per cent, according to the newspaper’s sources, and are intended to protect solar equipment manufacturing firms within Europe from a tide of cheap Chinese imports. They could be imposed as early as June 5.
Dozens of European firms have closed since China entered the market six years ago, amid claims by European manufacturers that Chinese firms receive illegal state subsidies.
Europe is the world’s largest solar panel market and in 2011, China controlled 80 per cent of the European market, trade that was worth around €21bn or about 7 per cent of China’s total exports to Europe, reports the paper.
Was this article useful? If so we are delighted!
It is freely available because we believe that the right to free and independent information is essential for democracy. But this right is not guaranteed forever, and independence comes at a cost. We need your support in order to continue publishing independent, multilingual news for all Europeans.
Discover our subscription offers and their exclusive benefits and become a member of our community now!