Solars Lower as China, Europe Tariff Battle Heats Up (JASO) (TSL) (WFR)
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Solar panel producers are seeing some pressure Thursday amid reports that Chinese officials might be "stonewalling" European Union leaders over solar panel imports.
According to Reuters, EU leaders want to avoid what the U.S. did in 2012 with implementation of dumping duties on solar modules, knowing that China might be one of the keys to helping Europe recover from a three-year slump.
EU members approved a measure Wednesday which would allow for registration of solar panels from China. Retroactive measures could also be taken if the European Commission agrees to registration and decides to impose duties. The EC denied chatter that the move might hint at the administrations move to block imports of Chinese solar panels.
Both China and Europe have accused one another of favoring domestically-produced panels over imports, with each side threatening duties. Germany, the U.S., and China are the three largest consumers of solar panels, making this upcoming decision as tricky as ever.
Traders are keeping and eye on Trina Solar (NYSE: TSL), MEMC Electronic Materials (NYSE: WFR), SunPower (Nasdaq: SPWR), LDK Solar (NYSE: LDK), JA Solar (Nasdaq: JASO), and ReneSola (NYSE: SOL), among others as the event play out.
According to Reuters, EU leaders want to avoid what the U.S. did in 2012 with implementation of dumping duties on solar modules, knowing that China might be one of the keys to helping Europe recover from a three-year slump.
EU members approved a measure Wednesday which would allow for registration of solar panels from China. Retroactive measures could also be taken if the European Commission agrees to registration and decides to impose duties. The EC denied chatter that the move might hint at the administrations move to block imports of Chinese solar panels.
Both China and Europe have accused one another of favoring domestically-produced panels over imports, with each side threatening duties. Germany, the U.S., and China are the three largest consumers of solar panels, making this upcoming decision as tricky as ever.
Traders are keeping and eye on Trina Solar (NYSE: TSL), MEMC Electronic Materials (NYSE: WFR), SunPower (Nasdaq: SPWR), LDK Solar (NYSE: LDK), JA Solar (Nasdaq: JASO), and ReneSola (NYSE: SOL), among others as the event play out.
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