The U.S. solar industry hopes to persuade Customs officials to overturn a tariff ruling that could have grave impact on solar companies.
As reported by the New York Times last week, custom officials in January imposed a 2.5% tariff on imported solar panels made by Chinese firm Trina Solar (NYSE: TSL).
The solar industry has enjoyed duty-free trading for more than two decades; however, custom officials in New York said diodes in the solar panel resulted in a "generator" classification for the module, triggering the tariff.
Reuters quoted one solar industry official who said the ruling was a surprise, because "all solar panels contain bypass diodes and have forever."
If U.S. Customs decides to apply this standard across the board, it could result in millions of dollars worth of tariffs and penalties for modules already imported this year, according to Reuters.
Read the full report at the link below.
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