US hikes tariffs on imports of China’s solar wafers, polysilicon and tungsten products | Elaine Kurtenbach / AP Business Writer

  • 📰 BusinessMirror
  • ⏱ Reading Time:
  • 90 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 39%
  • Publisher: 59%

Österreich Nachrichten Nachrichten

Österreich Neuesten Nachrichten,Österreich Schlagzeilen

BANGKOK—The Biden administration plans to raise tariffs on solar wafers, polysilicon and some tungsten products from China to protect US clean energy businesses.

The sun sets over electric pylons along a solar farm near Weifang in eastern China’s Shandong province on March 22, 2024.

“The tariff increases announced today will further blunt the harmful policies and practices by the People’s Republic of China,” USTR Katharine Tai said in a statement. “These actions will complement the domestic investments made under the Biden-Harris Administration to promote a clean energy economy, while increasing the resilience of critical supply chains.”

“The United States’ claim that Chinese information and communication products pose security risks is completely baseless,” ministry spokesperson He Yadong told reporters at a routine briefing. “We hope that the US will respect facts and stop politicizing and weaponizing economic and trade issues. China will take all necessary measures to firmly safeguard the legitimate rights and interests of Chinese enterprises,” He said without elaborating.

Tungsten is another strategically vital metal whose production is dominated by China. The US does not produce it, but South Korea is a potential big supplier. It’s used to make armaments and is also used in x-ray tubes and light bulb filaments, among other industrial applications. US imports of the metal from China fell to $10.9 million in 2023 from $19.5 million the year before.

His administration has kept in place tariffs that Trump imposed during his first term in office, but says it has a more targeted approach. China accounts for more than 80 percent of the market for solar panels at all stages of production, according to the International Energy Agency, more than double domestic demand for those products. Its huge economies of scale have made solar power more affordable, but also concentrated the supply chain inside China. The IEA has urged other countries to assess their solar panel supply chains and develop strategies to address any risks.

Wir haben diese Nachrichten zusammengefasst, damit Sie sie schnell lesen können. Wenn Sie sich für die Nachrichten interessieren, können Sie den vollständigen Text hier lesen. Weiterlesen:

 /  🏆 19. in AT
 

Vielen Dank für Ihren Kommentar.Ihr Kommentar wird nach Prüfung veröffentlicht.

Österreich Neuesten Nachrichten, Österreich Schlagzeilen

Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.

15th PHILSME Business Expo: A venue, platform for SMEs to showcase businesses, opportunity for expansionLatest Philippine news from GMA News and 24 Oras. News, weather updates and livestreaming on Philippine politics, regions, showbiz, lifestyle, science and tech.
Herkunft: gmanews - 🏆 11. / 68 Weiterlesen »

Davao Mayor Proposes Exemption for Delivery Riders from Business PermitsDavao City Mayor Sebastian 'Baste' Duterte has proposed that delivery riders be exempt from obtaining business permits. The mayor expressed that the current income and working conditions of delivery riders make it difficult for them to afford the required permits. He plans to use recent Supreme Court rulings to create an ordinance supporting this exemption. Former councilor Pamela Librado supported the initiative, highlighting the financial burdens and safety concerns faced by delivery riders.
Herkunft: sunstaronline - 🏆 18. / 59 Weiterlesen »

Senior Citizen Business Owner Killed in Candaba, PampangaA 68-year-old senior citizen business owner was found dead in her office after being stabbed with five sharp nails by her attacker, who allegedly fled with a red bag containing P60,000 and a handgun.
Herkunft: gmanews - 🏆 11. / 68 Weiterlesen »

All business, nothing personal for Tony Ynot after helping Benilde dethrone former team San BedaFor the first time in his college career, Tony Ynot is setting foot in the finals after helping steer De La Salle-College of Saint Benilde to the NCAA Season 100 championship round on Saturday.
Herkunft: gmanews - 🏆 11. / 68 Weiterlesen »

Big business heeds President's call to avoid lavish Christmas partiesMANILA, Philippines — Big business heeded the call of President Ferdinand Marcos Jr. to avoid lavish Christmas parties and instead give the money to their employees as additional incentives.
Herkunft: TheManilaTimes - 🏆 2. / 92 Weiterlesen »

Big business heeds Marcos' call to shun lavish Christmas parties(UPDATE) BIG business has heeded the call of President Ferdinand Marcos Jr. to avoid holding lavish Christmas parties.
Herkunft: TheManilaTimes - 🏆 2. / 92 Weiterlesen »