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Sino-US Talks Benefited PV Inverters, 25% Tariffs Fell To 10% Dec 05, 2018

Recently, good news came from the White House. The Sino-US talks have achieved a staged victory. US President Trump and Chinese President Xi Jinping have had "very successful meetings." Trump agreed to maintain commodity tariffs at 10% on January 1. .

 

Analysts pointed out that this is a tentative agreement based on a variety of conditions. According to a statement from the White House, if US President Trump and Chinese President Xi Jinping can reach an agreement on structural changes in technology transfer, intellectual property protection, non-tariff barriers, network intrusion and cyber theft, services and agriculture "in the future" Within 90 days, the 301 tariffs on China's $200 billion products will remain at 10%."

 

John Smirnow, General Counsel and Vice President of Market Strategy at the Solar Energy Industry Association (SEIA), has confirmed that this tax list includes inverter products.

 

As an interim measure, President Trump has agreed to impose a 10% tariff on these products on January 1, instead of increasing it to 25% as planned, and the 10% tax rate will continue until 90 days during the negotiation period.

 

Enphase, Huawei and other companies producing inverters inChinamay be the beneficiaries of the agreement between President Trump and President Xi Jinping. For some manufacturers like Enphase, this can take advantage of this critical period to move manufacturing bases to other regions outsideChina. As Enphase previously said, its contract manufacturing partner Flex will begin producing micro-inverters inMexicoin the second quarter of 2019.

 

White House Press Secretary Sarah Sanders said that if the two sides fail to reach an agreement, it is hard to imagine that tariffs will increase from 10% to 25%.