Trump Unveils Trade Actions to Compete with China on Solar and Chips
The order also sets minimum import prices and an incentive program to support U.S. production, while companies with domestic operations rose in after-hours trading.
- On Thursday, President Donald Trump signed a proclamation imposing 15% tariffs on imported polysilicon and related derivatives, citing national security concerns over United States reliance on foreign supplies.
- Invoking Section 232 of the Trade Expansion Act, the administration seeks to protect domestic manufacturers from Chinese competition; Chinese companies became the world's dominant polysilicon producer by the last decade.
- The Commerce Department will oversee minimum import prices of $21 per kilogram for polysilicon and $100 for ingots, while Trump's order authorizes incentive programs for firms investing in domestic factories.
- Shares of First Solar Inc. climbed 8% and T1 Energy Inc. rose 6.3% following the announcement, though manufacturers warned the December 4 implementation date could spur stockpiling of cheap imports.
- Jon Toomey, president of the Coalition for a Prosperous America, called the directive a strategy to reshore industry as the United States seeks to nurture a solar supply chain dormant for over a decade.
12 Articles
12 Articles
With tariffs and minimum prices, US President Trump wants to protect domestic polysilicon production from cheap imports. Semiconductors are produced from the material. A German company could benefit from the measures.
To protect its own industry, the US has a 15 percent duty on polysilicon imports. China's government criticizes the measure.
US sets 15% polysilicon tariff, price floors to challenge China’s dominance
The United States has announced new tariffs and price floors on polysilicon and related products, targeting China’s dominance in key materials used in solar panels and semiconductor manufacturing. In a proclamation signed on Thursday, US President Donald Trump imposed a 15 per cent tariff, which will take effect after 120 days, and established a series of price floors to protect domestic manufacturers and curb imports of China-sourced materials.…
Trump Order Sets 15% Tariff, Price Floors on Polysilicon Imports
President Donald Trump ordered new tariffs as well as price floors on imported polysilicon used in semiconductors and solar panels, warning that US reliance on foreign supplies threatens national security.
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