US President Joe Biden will declare a 24-month tariff exemption on Monday for solar panels from four Southeast Asian nations after an investigation froze imports and stalled projects in the United States, Reuters has reported, citing sources familiar with the matter.
The move comes amid concern about the effect of the commerce department’s months-long investigation into whether imports of solar panels from Cambodia, Malaysia, Thailand and Vietnam – nations which now constitute about 80 percent of annual panel imports into the US – are circumventing tariffs on goods made in China.
Biden’s action would allay companies’ concerns about having to hold billions of dollars in reserves to pay potential tariffs, one source familiar with the White House’s plans said.
“There is going to be this safe harbour timeout on the … collection of duties, and that’s at the heart of…
