Re: USITC decision on solar panel tariff case
Follow the money. heres some backstory
Suniva (bankrupt, 64% owned by Shunfeng of China) filed the case.
"Venture capital group SQN Capital Management is the largest creditor of Chinese-owned Suniva, having provided $51 million in equipment financing. In a May 3 letter, the company’s president outlines a plan that would see Suniva drop its tariff push if a member of the Chinese Chamber agreed to buy $55 million worth of Suniva equipment so the manufacturer could repay its debts to SQN.
If such a deal went through, the trade case “would be withdrawn,” SQN President Jeremiah Silkowski wrote, as the company would stop providing funding to Suniva under its bankruptcy.
“If SQN were to arrange a sale of the equipment that secures its investment, SQN would have no interest in providing additional funding to Suniva and the company would have to convert to a Chapter 7 Bankruptcy where the assets are liquidated and the company ceases to exist,” he wrote.
Swinerton called SQN's offer “an attempt to extort money out of manufacturers that has now put all our jobs at risk.” Suniva did not respond to requests for comment."
http://www.utilitydive.com/news/solar-insiders-expect-itc-harm-finding-handing-tariff-decision-to-trump/505076/The other one in the case is German owned:
"An E&E News investigation uncovered the majority of Suniva's products were not made in the U.S., but came from other countries. The company sold a 64% stake to Chinese firm Shunfeng in 2015. SolarWorld's parent company is based in Germany as well, which filed for insolvency in May. Suniva declared Chapter 11 bankruptcy in April."
http://www.utilitydive.com/news/updated-itc-finds-injury-to-us-solar-manufacturers-sending-tariff-decisio/505602/Chinese and German companies and US vultures fighting over carcasses.
Apart from china, who else is screwed ?
now two democrats and two republicans on the USITC voted 4-0 that imports from, mexico caused serious injury and korea (serious injuries caused by imports or threat thereof?! ). Canasidtan was let off with three comishs disagreeing with the chair.
Some others were let off the hook:
" ...from Australia, CAFTA-DR countries, Colombia, Jordan, Panama, Peru, and Singapore individually are not a substantial cause of serious injury or threat thereof. "
https://www.usitc.gov/press_room/news_release/2017/er0922ll832.htmhttps://www.usitc.gov/sites/default/files/press_room/news_release/201_factsheet_finalasposted.pdfFor a historical parallel, look at USA sugar tariffs, who they benefit, and how it is killing the Everglades.
sidd