The US Department of Commerce has finalized the dumping and subsidies of China's related PV products, and several major stakeholders have expressed some insider views of this economic and trade game. This is another game between China and the United States. One is an aggressive US government and the other is a Chinese PV company. The US Department of Commerce made a final ruling on the 10th local time, and found that there were dumping and subsidies for crystalline silicon photovoltaic cells and components exported from China to the United States. This is basically an anti-dumping and countervailing duty ("double-reverse") sweep by the United States for such products. Cleared the road. The US "double-reverse" finalization of China's PV products may once again trigger a chain reaction in the EU, putting the last straw on the "weak wind" Chinese PV industry. For the US move, government departments and industry associations including the Ministry of Commerce of China and enterprises responded to this. The China Chamber of Commerce for Import and Export of Machinery and Electronics issued a notice stating that the US Department of Commerce was unfair in the countervailing investigation procedure and applied for the US. It took a three-month period for people to apply for a new project to consider whether to file a case, but only to give the Chinese PV industry 17 days to answer the questionnaire. This is just a microcosm of the martyrdom of Chinese companies. An official from the US Department of Commerce showed in the materials sent to reporters, including Suntech Power (STP.NYSE), Trina Solar (TSL.NYSE) and Yingli (YGE.NYSE). The Chinese company in China had requested a hearing in June, and this request was only met in August. According to data released by the US Department of Commerce, in 2011 the United States imported crystalline silicon photovoltaic cells and components worth about $3.1 billion from China. American think tanks and related industry associations have repeatedly warned that the United States will pay a heavy price by levying "double-reverse" tariffs to protect local companies. The US Cheap Solar Energy Association estimates that if the US imposes a 100% punitive tariff on photovoltaic cells and components from China, it will lose 50,000 jobs in the next three years. Traceability of the investigation The US Department of Commerce finally ruled that manufacturers or exporters of crystalline silicon photovoltaic cells and modules in China had dumping practices when selling such products in the United States, with dumping margins ranging from 18.32% to 249.96%. At the same time, it also ruled that such products exported from China to the United States received subsidies ranging from 14.78% to 15.97%. Trina Solar (TSL.NYSE) said in a statement that the US Department of Commerce finally decided to impose a 23.75% merger tariff on one of the Chinese exporters who exported the above products to the United States. The industry's tariffs range from 23.75% to 254.66%). The combined tariff includes 18.32% of anti-dumping duties and 15.97% of countervailing duties, while deducting 10.54% of export subsidies to avoid double counting anti-dumping duties against countervailing duties. Trina Solar is ready to respond to the final outcome and will continue to comply with and fulfill customer contract terms. Trina Solar said it would reserve the right to make further appeals against the final decision of the US Department of Commerce or the International Trade Commission. In accordance with the US trade relief procedures, in addition to the US Department of Commerce, the case also requires the US International Trade Commission (ITC) to make a final ruling. According to the current schedule, ITC is scheduled to make a final ruling at the end of November this year. If ITC also makes a positive final ruling, the US Department of Commerce will require Customs to impose a “double-reverse†tariff on related products. This is another trade relief operation initiated by the United States against China this year. The United States has successively launched "double opposition" and "337 investigations" on Chinese products. “The cost of selling domestic solar panels in the US is currently around US$0.70 to US$0.75, while the current average price in the US is US$0.95 to US$1. Even if the tax only increases by 23.75%, the competitiveness has dropped significantly.†A PV business person who asked not to be named said. Of the total shipments of Chinese PV companies last year, the US market accounted for about 15%, and the EU market accounted for about 75%. Artes Sunshine Power Co., Ltd. is one of the 10 companies that went to the United States last year. Its president and CEO, Xiao Xiaoying, pointed out to reporters that the United States had a global market share of about 6% in the previous year. Shen Danyang, spokesman of the Ministry of Commerce of the People's Republic of China, said that the US Department of Commerce ignored the reasonable defense of the Chinese government and Chinese companies and adopted unfair taxation measures on China's solar cell products exported to the United States. The Chinese side expressed strong dissatisfaction with the results of the ruling. Shen Danyang said that China and the United States have cooperated closely in the field of clean energy and have formed a situation of "you have me, I have you", and impose anti-dumping and countervailing duties on Chinese solar cell products, which will also damage US raw materials and equipment exporters. And the interests of the US consumer. According to a notice issued by the China Chamber of Commerce for Import and Export of Machinery and Electronic Products, China's crystalline silicon photovoltaic cell manufacturers import more than US$2 billion of polysilicon, EVA, and slurry raw materials from the US each year. China's exports of photovoltaic cells and components to the United States have also made important contributions to the development of downstream industries in the United States, especially the photovoltaic power generation installation industry. In November 2011, the US Department of Commerce officially launched anti-dumping and countervailing investigations on China's US solar cells (boards). This is the first time the US has launched a "double-reverse" investigation on China's clean energy products. On March 20 this year, the US Department of Commerce determined that there were subsidies for China's export of crystalline silicon photovoltaic cells and components, and announced the preliminary results of the anti-dumping investigation on solar cell products in China in May. On September 6 this year, the European Commission announced that it would conduct anti-dumping investigations on PV products imported from China (including crystalline silicon components, batteries, silicon wafers, etc.). Li Lin, a lawyer from Jincheng Tongda Law Firm, who represented the Chinese government in the Sino-US New Energy Series, told the reporter that the Chinese government needs to do some mediation and coordination work with the EU to reduce the losses of both parties. After all, the enterprises involved in these cases excessive. Our reporter has previously learned from the core people that the Sino-European PV trade friction has changed. Today, several new energy stocks have been raging. As of this week, Suntech Power (STP.NYSE) has fallen 60.85% this year, and recently it is hovering around the unit price of 1 US dollar. The risk of delisting is still there. In the same period, Trina Solar fell nearly 37%, as of press time, the price was 4.22 US dollars after the opening, Yingli (YGE.NYSE) opened to 1.71 US dollars, but this year's decline has also reached 55%. The potential impact has been closely following the case, and the head of the relevant department of the Ministry of Commerce, who is actively conducting bilateral consultations, told reporters that from the government's point of view, the US ITC will release the final announcement of the industry before November 23, the following week. Within this, the US Department of Commerce will issue a taxation order. It can be confirmed that the final ruling “anti-dumping†(anti-dumping and countervailing) tax rates determined by the US Department of Commerce will not be changed. The technical problems that can be solved are only concentrated on the margin of cash deposits paid by importers. Adjustment. Insiders analyzed that if there is still the most pragmatic thing to do in the next step, the Chinese government will push the case to the WTO (World Trade Organization). The person in charge of the relevant department of the Ministry of Commerce said that the Ministry of Commerce still needs to wait for the United States to complete the ruling procedure and make further assessments before making a decision. "This high countervailing duty rate is too unreasonable. It has set a very bad precedent. It is necessary to ask about the rationality of its technical operation and prepare for future cases," an industry source said. Previously, China had successfully won the ruling on the unreasonable countervailing duty rate measures in the United States in four cases of the WTO. A lawyer who filed a complaint with ITC on behalf of a solar-related institution in the United States told reporters that the plaintiff (US PV company) was very concerned about expanding the scope of the (government) investigation. The plaintiffs very much hope to extend the decision of the US Department of Commerce, that is, to the solar panel manufacturers ("double-reverse") tariffs to any country. The lawyer said that the move would bring great political pressure to the US Department of Commerce, so there was no agreement. “The Appellate is very upset now. Those in the industry have allies in Congress.†He said, “The Chinese industry may need to pay close attention to this issue. Because the appellant will continue to try to expand the scope.†The lawyer analyzed another core. The problem is "critical circumstances" and "affirmative circumstances". In fact, ITC must vote for both the “critical situation†and the “determination situation†at the same time. The two can be established at the same time or separately. If the ITC finally decides to “determine the situationâ€, it does not reach the “critical situationâ€. The tariff will be implemented from the day of the decision of the Ministry of Commerce. If both “determined situation†and “critical situation†are found, the tariff will be implemented 90 days before the decision of the Ministry of Commerce. When the US Department of Commerce announced the preliminary results of the anti-dumping investigation on solar cell products in China in May this year, it would trace the taxation measures back 90 days. The above lawyers said that 90 days will have a great impact on the company, involving a considerable amount of exports. He stressed that the types of work including (solar) installation, design, engineering, and maintenance have created a lot of jobs for the United States, and Chinese companies have helped. But ITC's vision is too limited, only concerned about the manufacturing industry in the United States itself. Kenneth G. Lieberthal, director of the John Thornton China Center at the Brookings Institution in the United States, said in an interview that it is clear that the cost of manufacturing solar panels in China will be lower, but all trade issues are complex. Li Ruru believes that the US Department of Commerce made the decision at this time because they just completed the investigation and have nothing to do with the presidential election. Although the final result has caused Chinese companies to be hit hard, the "living road" has not been completely blocked. The U.S. Department of Commerce’s “double-reverse†penalty tariff does not apply to solar panels outside mainland China. This means that Chinese companies can set up factories to produce batteries abroad, or purchase batteries from overseas, and then use the labor cost advantage in the mainland to weld and assemble solar panels. For PV companies to open factories abroad, Zhang Dong, an analyst at Hengzhou Bozhi Solar Research Center, analyzed this report. Foreign labor costs are relatively high. The same products, domestic and foreign production may have a cost difference of more than 10%, but if The United States began to impose "double-reverse" tariffs, and the increased production costs may be lower than the increased taxes, which is relatively more cost-effective. In addition to transferring production capacity, there is another way to digest capacity is to invest directly in photovoltaic power plants overseas. It is worth noting that the National Development and Reform Commission has approved the photovoltaic power plant project of Hefei Hairun Photovoltaic and Jiangsu Jueneng Silicon in Europe. A person in charge of Yingli Green Energy Propaganda Department told reporters that in addition to seeking overseas construction and foundry, Yingli will also carry out photovoltaic power station development, including foreign power stations.
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