EU officials agree compromise in solar panels row
Print Edition
European Union officials endorsed a deal yesterday to settle a dispute with China over solar panels, the biggest trade row to date between the two powers, after winning almost unanimous backing from member states.
The agreement will be officially published today and takes effect on August 6. Chinese firms who agree to its terms will avoid duties that the 28-nation EU had planned to impose.
In a statement, the European Commission, the EU’s executive arm, said it had received almost unanimous support but declined to give details of any possible abstentions.
The EU trade chief and his Chinese counterpart agreed late last month to set a minimum price for panels from China near spot market prices.
European solar panel makers have accused China of benefiting from huge state subsidies.
The EU had planned to impose hefty tariffs from Tuesday but, wary of losing business in the world’s No. 2 economy, a majority of governments, led by Germany, opposed the plan, allowing for the compromise deal.
The European Commission said last night that it had adopted a decision to accept the undertaking offered by Chinese exporting producers of solar panels, as well as a regulation exempting these participating companies from the payment of provisional anti-dumping duties.
As a result, those Chinese companies participating in the price undertaking will be exempted from paying any anti-dumping duties as of Tuesday.
Those companies not participating will pay the increased anti-dumping duties, of 47.6 percent, that were announced on June 5.
Producers accounting for about 70 percent of Chinese solar panel imports to the EU have agreed to set a minimum price for them, EU Trade Commissioner Karel De Gucht said at a press conference earlier this week, without specifying what that price was.
“The Chinese suppliers have agreed to a voluntary undertaking where they commit to keeping the prices above a certain floor. In return, the companies who participated in the engagement do not have to pay the anti-dumping duties,” he said.
“This undertaking would apply only for an annual volume that covers only part of the European market,” he said, without giving the figure for the volume.
“Any Chinese exports exceeding this annual volume, the average anti-dumping duties of 47.6 percent will have to be paid as of August 6,” he said.
Chinese exports of goods to the EU totalled 290 billion euros last year, with 144 billion euros going the other way.
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