International/ National/ Business Desk
Tv10 Punjab
26 February
Journalist Sandeep Dhand Ludhiana
The United States has announced a 126% tax on some solar products imported from India. The US government claimed that India is giving unfair subsidies to its solar exporters, which allows them to sell products at lower prices in the American market. This decision was taken during the administration of former President Donald Trump. Due to this announcement, shares of solar companies in India fell sharply in the stock market.
The US has also imposed different tariffs on crystalline silicon photovoltaic cells imported from Indonesia and Laos. These new tariffs are separate from the earlier 10% tax announced for many countries on February 24. According to the US, these countries are supporting their exporters with heavy subsidies, which hurts American solar companies.
The main goal of this move is to protect domestic solar manufacturers in the US from foreign competition. However, market experts believe that such high taxes may create uncertainty in the global energy sector. In 2024, the US imported $792.6 million worth of solar products from India, compared to $83.8 million in 2022. Analysts warn that such high tariff rates could close the US market for Indian solar companies.
