Solar stocks popped on Tuesday after the US said it intends to slap tariffs as high as 3,521% on panel imports from four Southeast Asian countries.
The sector’s move comes after the US Department of Commerce announced the new duties following a yearlong investigation into anti-competitive exports from Southeast Asia linked to Chinese companies.
Producers in Cambodia face tariffs as high as 3,521% for not cooperating with the investigation, while levies on Vietnamese exporters reach as high as 813%. Solar imports from Malaysia and Vietnam were also included in the tariff announcement on late Monday.
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