Bookmark and Share

More than Hundreds of thousands of jobs at stake, following EU’s Solar Duties against China

0 Comment

Following my morning story of 11.8% anti dumping duty imposition on China by the EU, it is feared that there will be massive job Solar Panelslosses in both the China and Europe. About 400,000 jobs in China and 250,000 in the European Union are at stake. The duties can increase to somewhere between 37%-70%, if EU is not convinced about China’s intentions of lowering its costs. Many Chinese solar panel manufacturers have already started exiting the European market, due to the rising uncertainties in the scenario. The average duty is estimated to be somewhere at 47.6%. They have started exploring opportunities elsewhere than Europe. It is to be seen in two months time, whether a resolution can be arrived at between both the parties so that the current scenario does not culminate into a global trade war. With hundreds and thousands of jobs at stake, an intelligent move will be appreciated.

Read more about 11.8% provisional duty on Chinese produce, temporary relief for Chinese Solar Panel Manufacturers.

 Major media houses think that the rules of Free Trade have benefited the Chinese more than the other Western continents. China being the largest producer of solar panels and products in the world, a lot will depend upon Europe’s decision coming in the next two months. Europe accounted for almost 55% of the world’s demand of solar panels in the last year and hence is itself a large market for manufacture/ import of solar modules. With the new tariffs coming into effect in August, a lot will change in terms of suppliers and producers in both the regions. The Solar industry will once again witness a big change.
Tit-for-tat
China’s angry reaction in response to the EU’s anti dumping duties on solar panels was its initiation of anti dumping investigation on wine imports from Europe to China. This is going to effect Spain, Italy and France the most. These are the same countries that are supporting the anti-dumping movement against China.
“After the [solar] tariffs are imposed, more than 250,000 European jobs and 400,000 Chinese jobs will be at risk,” the official China Daily said.

“The rules of international trade are basically serving the interests of major powers,” the Global Times said.

“If we do nothing against China’s dumping, European producers will definitely not be competitive,” EU Trade Commissioner Karel De Gucht told the German daily Frankfurter Allgemeine Zeitung in an interview published Thursday. “I just want to create a level playing field.” “This is not about tableware, it’s about the technology of the future,” he added. “We have to act.”

PG

Sneha Shah

I am Sneha, the Editor-in-chief for the Blog. We would be glad to receive suggestions, inputs & comments on GWI from you guys to keep it going! You can contact me for consultancy/trade inquires by writing an email to greensneha@yahoo.in

No Responses so far | Have Your Say!