Yingli plans to vigorously defend itself against US anti-dumping charges
Release time:
2021-11-12
In the evening of October 21, Beijing time, Yingli Green Energy announced today that it is reviewing and planning to vigorously defend against trade complaints filed by seven US solar panel makers against domestic competitors, including Yingli, according to Reuters.
In the evening of October 21, Beijing time, Yingli Green Energy announced today that it is reviewing and planning to vigorously defend against trade complaints filed by seven US solar panel makers against domestic competitors, including Yingli, according to Reuters.
Seven US solar manufacturers on Wednesday asked the US government to impose tariffs of more than 100 per cent on domestically made solar photovoltaic cells, arguing that these domestic products drive down prices in the US and cost Americans jobs.
Yingli said: "We would like to remind everyone that this accusation clearly represents a one-sided view and a one-sided view."
Earlier today, the China Machinery and Electrical Chamber of Commerce hit back at the US anti-dumping charges and warned against such protectionist measures, which would hurt the global economy. Suntech has also condemned the allegations.
Yingli, which generated 10 per cent of its 2010 revenues in the US, said: "We are confident in our market position, we will vigorously defend ourselves against the charges and we remain engaged in the US market for the long term.
Domestic solar suppliers, led by Suntech Power, Yingli and Trina Solar, control 40 percent of the global solar market.
Yingli shares have fallen 62 per cent since the start of the year. Its shares closed Thursday at $3.75.
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