More than Hundreds of thousands of jobs at stake, following EU's Solar Duties against China
11.8% provisional duty on Chinese produce, temporary relief for Chinese Solar Panel Manufacturers
June 7, 2013Major Headlines of Today
June 8, 2013Following my morning story of 11.8% anti dumping duty imposition on China by the EU, it is feared that there will be massive job 
losses 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.
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“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.”