The Commerce Department has made its final decision in a case aiming to slam Chinese makers of solar cells with antidumping tariffs ranging from about 8% to about 240%. The decision was announced yesterday; the U.S. International Trade Commission is scheduled to make its final determination by Nov. 23.
"Commerce determined that Chinese producers/exporters have sold solar cells in the United States at dumping margins ranging from 18.32 to 249.96 percent," according to a press release. "Commerce also determined that Chinese producers/exporters have received countervailable subsidies of 14.78 to 15.97 percent."
The investigation looked into imports of crystalline silicon photovoltaic cells, whether or not assembled into modules (solar cells) from China.
Mandatory respondents included Suntech Power (NASDAQOTH:STPFQ) and Trina Solar (NYSE:TSL), which were deemed to have benefited from dumping margins of 32% and 18%, respectively. Click here to open a PDF fact sheet on the matter posted by the International Trade Administration.
Total imports of solar cells from China were valued at an estimated $3.1 billion in 2011.
Meanwhile, a spokesman for China's Commerce Ministry reportedly said in a statement that the U.S. is "inciting trade friction" and "obstructing the development of new energy development."
Justin Loiseau has no positions in the stocks mentioned above. The Motley Fool has no positions in the stocks mentioned above. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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