U.S. PRESIDENT BIDEN AGREES TO EXTEND TARIFFS ON PHOTOVOLTAIC PANELS
U.S. President Joe Biden has agreed to extend by four years the deadline for imposing tariffs on foreign imports of photovoltaic panels into the United States. He inherited the Trump-presidency policy of imposing high tariffs on imported photovoltaic products in the name of protecting U.S. domestic industries.
According to the British "Financial Times" (FT), Bloomberg and other foreign media reported on the 5th (local time) of this month, the Biden administration decided to extend the import tariffs on photovoltaic panels, which were originally scheduled to end the previous day, for another four years. However, bifacial PV modules required for the construction of large-scale PV projects are not included in the tariff collection as before. In addition, the allowable import of photovoltaic panel materials has been increased from 2.5 GW to 5 GW.
The Biden administration has also decided to consider waiving import duties on PV modules produced in Mexico and Canada. A senior U.S. government official said the move would help reduce the cost of purchasing photovoltaic panels for U.S. power producers while establishing a regional supply chain for photovoltaic modules in North America.
The United States began to impose tariffs on imported photovoltaic module products in 2018. The then U.S. president imposed a 30 percent tariff to protect U.S. industry. Four years later, the tariff rate was reduced to 15%, but it was not eliminated based on the "Buy American" policy.
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