Essay by Eric Worrall
h / t ResourceGuy; Will President Biden’s Green Revolution be built on the blood of persecuted Chinese minorities? President Biden moved to suspend restrictions imposed by the US Department of Commerce, after tariffs were imposed following allegations that Chinese-made components were being secretly incorporated into third-party products. Tuesday.
Solar stocks soar after Biden administration announces tariff pause
PUBLISHED JUNE 6, 20229: 00 AM EDT
Jesse Pound@JESSERPOUNDPresident Joe Biden has announced a 24-month tariff exemption for solar panel products from several Southeast Asian countries, and announced the use of the Defense Production Act to boost production. domestic.
The tariffs have received much criticism in recent months as the war in Europe has sent energy prices higher around the world.
Solar stockpiles jumped Monday following a report that the Biden administration would suspend tariffs on solar panel components from four countries.
Chairperson Joe Biden announced a 24-month tax exemption on solar panel products from Cambodia, Malaysia, Thailand and Vietnam, and announced the use of the Defense Production Act to boost domestic production. The news was first reported by Reuters. The move comes as the Commerce Department’s investigation into the solar industry in Southeast Asia has added additional barriers to equipment imports.
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“We believe this announcement will be a clear positive for our coverage, particularly in the utility-scale solar market, which is inherently large,” said JPMorgan analyst Mark Strouse. has faced uncertainty since the US Department of Commerce’s AD/CVD investigation was launched in late March in a note to clients.
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The US Department of Commerce has opened an investigation because accusations from a US solar manufacturer Auxin Solara women-led and minority company, that companies in Cambodia, Malaysia, Thailand and Vietnam are selling solar assembly systems to the United States, built from parts produced by Chinese manufacturing companies are subject to tariff restrictions.
The tariffs have been imposed because allegation of dumping – state subsidies to allow Chinese companies to cut other manufacturers. But The US also banned the import of solar panels manufactured using suspected forced labor – people to whom China is allegedly forced into concentration camps and slave labor, as part of alleging efforts to eradicate minority cultures that the Chinese Communists see as a threat to the state.
For anyone who suspects something very bad is going on in China, there has been a recent leak of hacked Chinese documents, allegedly. China’s own meticulous internal record of human rights abuses and cruelty.
Xinjiang, the center of the forced labor camp horror case, is a major producer of low-cost solar components.. Solar panel manufacturers need lots of high-quality coal and a large industrial base to process silicon, and Xinjiang has both. Large amounts of coal are consumed by the chemical process that reduces quartz to siliconand more coal is needed to fuel furnaces that heat the feedstock to the temperatures needed to start and maintain the chemical reaction that refines silicon.
So while no one has directly accused Vietnam, Cambodia, Malaysia and Thailand of using slave labor to produce solar components, why wouldn’t they? Any company that conceals its use of Chinese ingredients for the sake of greater profit is potentially committing a crime. Crime rarely violates workers’ rights – and Xinjiang-made solar components are some of the cheapest available.
In my opinion, President Biden’s suspension of tariffs sends a shocking message to the world. In my opinion, Biden’s passage through his own commerce department’s investigative processes effectively aiding and abetting any crime committed by solar panel suppliers. foreign weather is taking, and is a real hit for US-based manufacturers like Auxin Solarwho are trying to build a US business based on fair treatment of their workers.
Biden has just effectively told the world that his administration simply doesn’t care.
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