Vietnam accounts for 30% of US solar panel imports in Q1
U.S. solar panel imports in the first quarter of 2023 totaled 850,157 metric tons, up from 672,863 metric tons in the fourth quarter of 2022, with Vietnam accounting for 30.4%, followed by Thailand, Malaysia and Cambodia.
The four Southeast Asian countries accounted for 79.2% of U.S. photovoltaic (PV) module imports during this year's first quarter, said ratings agency S&P Global, citing statistics from New York-based global trade data company Panjiva Inc.
Among the largest shippers to the U.S. in Q1 was a Vietnam-based manufacturing affiliate of Arizona-based thin-film solar company First Solar Inc., which is not subject to the Commerce Department probe.
Other major shippers in the period included affiliates of Chinese companies Trina Solar Co. Ltd. and LONGi Green Energy Technology Co. Ltd., both of which were preliminarily found to be circumventing tariffs, and Boway Group., which was preliminarily cleared of circumvention, according to S&P Global.
The volume of shipping containers bringing foreign-made PV panels to U.S. ports in Q1/2023 jumped about 87% from a year ago to 50,227 20-foot equivalent units, according to Panjiva Inc. That was 12% more than in Q4/2022 and marked the third consecutive quarterly rise.
In May 17, U.S. President Joe Biden had vetoed a Congress resolution that would have undone his two-year moratorium on tariffs for solar panels and modules imported to the U.S. from Vietnam, Thailand, Malaysia, and Cambodia.
Earlier May, the U.S. Senate passed a Congressional Review Act (CRA) resolution to rescind President Joe Biden’s two-year “pause of antidumping and countervailing duties on solar products” from the four Southeast Asian countries.
In his veto, Biden affirmed his agenda has helped improve the U.S. solar equipment manufacturing sector. "When it comes to solar, since I took office, 51 new and expanded solar equipment manufacturing plants have been announced, and America is now on track to increase domestic solar panel manufacturing capacity eight-fold," he said.
The tariff suspension, launched in June 2022, is a 24-month period to make sure U.S. factories are operational and the solar industry is ready to power up American homes, businesses, and communities.
"For too long, because of unfair trade practices and underinvestment in domestic manufacturing, the United States has been reliant on China for solar energy products," Biden wrote in his veto.
"I do not intend to extend the tariff suspension at the conclusion of the 2-year period in June 2024," he added.
In December 2022, a U.S. trade court ruled that four Chinese companies had illegally tried to dodge American tariffs on solar products sent from China by routing their products through factories in Southeast Asia. The decision applied to the Thailand operations of Canadian Solar and Trina Solar, as well as BYD Cambodia and Vina Solar Vietnam, according to the U.S. Department of Commerce (DOC).
As of the end of 2022, the U.S. launched 52 trade defense cases against Vietnamese export goods, the highest figure among all trade partners of Vietnam. In particular, the DOC initiated 20 tax evasion investigations against Vietnam, including those for solar panels worth $1.4 billion, the DOC reported.
Vietnam has attracted global producers of solar modules and panels, with major American, Canadian, and Chinese investors already present, as the tropical country is ramping up investment in solar and wind power.
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