US imposes 126% tariff on Indian solar equipment. The US Department of Commerce announced preliminary countervailing duties of 125.87% on Indian solar cells and modules, significantly impacting a key export market. Indian solar manufacturers including Waaree Energies, Premier Energies, and Vikram Solar saw sharp stock declines as investors assessed export challenges. The duty stems from investigations concluding that Indian producers benefited from government subsidies. Indian solar exports to the US reached $792.6 million in 2024, over nine times 2022 levels. Major manufacturers have already reduced US shipments since the investigation began in August and are diversifying supply chains to mitigate tariff exposure. Some companies report limited direct impact through localized production strategies and non-Chinese sourcing arrangements.
Post from MarketNews_en
Log in to interact with content.