The European Union and China have reached an “amicable solution” in the solar panel case, Karel De Gucht, European Commissioner for Trade, said on 29 July.
August 5, 2013.
“I believe this solution will remove the injury that the dumping practices have caused to the European industry”, De Gucht stressed.
As he explained, the Chinese suppliers have agreed to a voluntary price undertaking where they commit to stop dumping and keep prices above a certain floor. In return, those companies who participate in this engagement do not have to pay the anti-dumping duties.
This undertaking will apply only for an annual volume that covers part of the overall European market. For the rest, so for any Chinese exports exceeding this annual volume, the average anti-dumping duty of 47.6% will have to be paid as of 6 August, De Gucht said.
“When the undertaking enters into force, European suppliers will see the shield against Chinese dumping go up from 11.8% in force today to 47.6% for those exporters who are not participating in the undertaking”, the Commissioner stressed.
On 4 June, the European Commission decided to impose provisional anti-dumping duties on imports of solar panels from China. A phased approach was used with the duty set at 11,8% until 6 August. From August on the duty will be set at the level of 47.6% which is the level required to remove the harm caused by the dumping to the European industry.