US' new duties are an ill wind fanning tensions
By Richard Fu |
June 1, 2012, Friday
|
Print Edition
Print Edition
THE US has slapped new duties on China's wind towers as trade tensions in the clean energy sector continue to grow between the two countries.
On Wednesday the Commerce Department imposed preliminary countervailing duties ranging from 13.74 percent to 26 percent on the steel towers from China following an investigation that determined Chinese companies received government subsidies for their products.
The US imported about US$222 million of wind towers, which are the steel structure holding the blades that power the wind turbines, from China in 2011. China companies affected include Titan Wind Energy (Suzhou) Co, whose shares fell 0.8 percent yesterday in Shenzhen.
The US investigation was prompted by the Wind Tower Trade Coalition, a group of American firms which claim they are harmed by the subsidies on the Chinese products. The US firms also claimed Chinese manufacturers were selling products at prices below production costs, which could lead to anti-dumping duties being imposed.
On Wednesday the Commerce Department imposed preliminary countervailing duties ranging from 13.74 percent to 26 percent on the steel towers from China following an investigation that determined Chinese companies received government subsidies for their products.
The US imported about US$222 million of wind towers, which are the steel structure holding the blades that power the wind turbines, from China in 2011. China companies affected include Titan Wind Energy (Suzhou) Co, whose shares fell 0.8 percent yesterday in Shenzhen.
The US investigation was prompted by the Wind Tower Trade Coalition, a group of American firms which claim they are harmed by the subsidies on the Chinese products. The US firms also claimed Chinese manufacturers were selling products at prices below production costs, which could lead to anti-dumping duties being imposed.
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