U.S. to impose 3,521% tariffs on solar panels from Southeast Asia

The United States plans to impose tariffs of up to 3,521% on solar panels from Southeast Asia in an effort to counter alleged Chinese subsidies and dumping in the sector.

According to foreign news agencies, tariffs on companies from Cambodia, Thailand, Malaysia, and Vietnam will need ratification at a meeting of the International Trade Commission in June.

The decision, unveiled Monday, follows anti-dumping and countervailing duty investigations filed roughly a year ago by several U.S. and other solar manufacturers. These companies alleged "unfair practices" that they claimed weighed on the U.S. domestic solar market, particularly highlighting concerns about Chinese-headquartered companies operating in Southeast Asia.

While Monday's move comes after a year-long investigation, it is reminiscent of trade wars launched during former President Donald Trump's tenure, when the White House imposed high tariffs around the globe before suspending some levies to allow for negotiations. These tariffs aimed to reduce U.S. trade imbalances.

The Commerce Department said the newly recommended tariffs on solar cells target "transnational subsidies."

"In the CVD investigations involving Cambodia, Malaysia, Thailand, and Vietnam, Commerce found that companies in each country were receiving subsidies from the government of China," the statement said, referring to countervailing duty probes.

"These are among the first CVD investigations wherein Commerce has made an affirmative finding that companies received transnational subsidies," it added.