JinkoSolar Holding Co., Ltd.(“JinkoSolar” or the “Company”) (NYSE: JKS), a leading global solar power product manufacturer, commented on the final determination of injury by the United States International Trade Commission (“USITC”) concerning the anti-dumping duty (“AD”) and countervailing duty (“CVD”) investigation of imports of crystalline silicon photovoltaic cells and modules from the People’s Republic of China.
The USITC finally determined that imports of crystalline silicon photovoltaic cells and modules from China “materially injure” a U.S. industry, but the USITC did not make an affirmative determination regarding critical circumstances. As a result, the Company will face AD at 15.42% and CVD at 15.24% for the cells and modules imported into the United States after the respective date of the preliminary determinations on AD and CVD were issued by the Department of Commerce.
“We are disappointed with the International Trade Commission’s final determination on the injury,” commented Mr. Xiande Li, Chairman of JinkoSolar. “While the decision was partially favorable to us, we believe that this ruling will have negative effects globally and will ultimately end up hurting consumers. Trade protectionism benefits no one and will only hinder the solar market’s development. Despite the circumstances, we remain fully committed to our customers in the United States and are prepared to meet our contractual commitments there. As we have stated before, these tariffs are unlikely to have an impact on our business as the United States continues to account for a fairly small percentage of our total module shipments. We are still strongly dedicated to the success of Jinko Solar in the United States.”