US Slaps Tariffs on Chinese-built Wind Towers
The US Department of Commerce and its International Trade Administration have imposed countervailing duties on imports of utility scale wind towers manufactured in China. The tariffs range from 13.74% to 26%, depending on the company. The tariffs are preliminary and…
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The complaint was filed in December 2011 by four US tower makers, including Broadwind Energy Inc. (NASDAQ: BWEN), charging that the government of China subsidizes Chinese manufacturers to “push wind towers into the US market.” The complaint also claimed that in the 18 months preceding the filing, “loans and credit provided by state-owned Chinese banks to Chinese wind tower producers totaled $47 billion.”
The tariffs apply only to the towers themselves, not the turbine or blades. The towers cost between $300,000 and $600,000 apiece.
Paul Ausick
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Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.