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EU strikes solar deal with China on tariffs

The EU has struck a deal with China that will set a minimum price for Chinese solar panels sold in Europe.

Officials say it will be 56 euro cents per watt of solar energy produced.

The deal is voluntary, but Chinese firms which agree to that price will be spared from anti-dumping duties.

Karel de Gucht, the EU’s trade commissioner, told euronews that “we have created a window of opportunity for the European industry to recover” amid accusations of Chinese dumping practices.

“Chinese imports will be sealed, at least the ones that do not have to pay anti-dumping duties. Above that they will have to pay anti-dumping duties. And of course then the European countries will have to demonstrate that they will have to compete,” he said.

But European manufacturers said the deal did not go far enough and they planned to challenge the accord at the European Court of Justice.

The agreement averts a potential trade war as China had raised the possibility of an anti-dumping probe into Europe’s wine industry.

Source: «Euronews»