Thursday, May 9, 2013

EU Imposes Import Duties on China solar panels and increasing the Risk of a Trade War..... German Solar Manufacturers shares on the Up!

The European Commission agreed to impose punitive import duties on solar panels from China in a move to guard against what it sees as dumping of cheap goods in Europe, prompting a cautious response from Beijing which called for further dialogue.

EU commissioners backed EU Trade Chief Karel De Gucht's proposal to levy the provisional duties by June 6 and make Chinese solar exports less attractive, two officials said.

Shares in German manufacturers SolarWorld, Phoenix Solar and Centrotherm rose as much as 7 percent on the decision, while Frankfurt-listed shares in China's Suntech were down more than 4 percent.

http://www.reuters.com/article/2013/05/09/us-eu-china-solar-idUSBRE94808A20130509