CLICK HERE FOR REPLAY of our conference call with Rhone Resch, former President and CEO of the Solar Energy Industries Association, from Friday afternoon to discuss potential US tariffs on imports of Chinese solar panels.
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Trump wanted trade tariffs. On Friday, the International Trade Commission (ITC) issued its public report that recommended tariffs of up to 35 percent on Chinese solar panels only days after the President returned from China and Asia this week.
The President has 60 days to make decision by January 12. Resch said that Chinese officials raised the solar trade case with Trump during his visit to China last week, according to industry sources. In addition, Resch said that representatives from the Chinese Finance Ministry were in Washington this week to submit a proposal to resolve the issue. However, Resch cautioned that previous attempts by China to resolve the matter have not gained traction.
Resch said that Trump has three options: 1) accept the ITC recommendation and choose one its solutions; 2) reject the tariff recommendation; or 3) use his Executive discretion to develop an alternative tariff up to a cap of 50 percent.
Resch said he believes the White House will try to delay making a decision and extend the comment period in order to give additional time for a global settlement with China and out of concern for geopolitical issues and efforts by the Chinese with North Korea. If Trump opts to go with a tariff, Resch thinks the Administration will likely select the ITC recommendation of tariffs up to 35 percent.
