US waives tariffs on Vietnam solar panels
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Joe Biden has waived tariffs on solar panels exported from Vietnam and three other Southeast Asian countries for two years amid rising demand for renewable energy in the U.S.
The tariff exemption will also apply to panels from Cambodia, Malaysia and Thailand and serve as a “bridge” while U.S. manufacturing ramps up, the White House stated Monday.
Solar energy is among the fastest growing sources of new electric generation in the United States, and Southeast Asia made up around three-quarters of solar modules imported to the U.S. in 2020, the White House said.
Vietnam has risen as a solar power hotspot in recent years thanks to the government’s incentive feed-in tariffs to attract investors.
In the first four months this year, solar plants accounted for 10.9 percent of total power production, according to state-owned utility Vietnam Electricity.
Hong Kong-based Jinko Solar, one of the largest solar panel manufacturers in the world, received an investment license for its $498 million project in northern Vietnam last year and launched its plant in January.
Questions & Answers
Q.Which specific countries are included in the U.S. Tariff waiver for solar panels?
Which specific countries are included in the U.S. Tariff waiver for solar panels?
The tariff exemption applies to solar panels exported from Vietnam, Cambodia, Malaysia, and Thailand. These four Southeast Asian nations are covered by the new U.S. Policy for a two-year period.
Q.What is the stated purpose of this two-year tariff waiver from the U.S. Government?
What is the stated purpose of this two-year tariff waiver from the U.S. Government?
The White House stated that the tariff waiver will serve as a 'bridge'. It is intended to cover the period while domestic U.S. Manufacturing of solar panels ramps up to meet rising demand for renewable energy.
Q.What percentage of U.S. Solar module imports did Southeast Asia account for in 2020?
What percentage of U.S. Solar module imports did Southeast Asia account for in 2020?
In 2020, Southeast Asia was a significant supplier of solar modules to the U.S. The White House reported that the region made up approximately three-quarters of all solar modules imported by the United States that year.
Q.Which major solar panel manufacturer recently opened a plant in northern Vietnam?
Which major solar panel manufacturer recently opened a plant in northern Vietnam?
Hong Kong-based Jinko Solar, identified as one of the world's largest solar panel manufacturers, received an investment license last year and launched its plant in northern Vietnam in January.
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