Biden vetoes legislation to block solar panel tariffs waivers for Vietnam

👎 President Joe Biden said he has vetoed legislation passed by the U.S. Congress that would repeal exemptions on American tariffs on imported solar panels from four Southeast Asian nations.

📜 The waiver stemmed from a Commerce Department investigation last year that found that some major Chinese solar panel makers were trying to dodge U.S. tariffs on their products by finishing them in Southeast Asian nations. Imports from the countries make up around 80% of U.S. solar panel supplies.

🌏 The waivers for duties on panels made in Malaysia, Cambodia, Vietnam and Thailand, granted by Biden in June 2022, are set to be in place for two years.

🗣️ Biden said on Tuesday the waivers will create a “bridge” while U.S. manufacturing ramps up enough to supply the domestic projects needed to achieve goals in fighting climate change.

☀️ Top clean energy trade groups, whose members rely on cheap imports to keep their costs low, support the exemption and praised Biden’s veto. In a statement, the U.S. Solar Energy Industries Association (SEIA) said the legislation would have eliminated 30,000 jobs in the solar sector by stalling development.

Source: https://vietnam-b2b.com/oIOQ