Tariffs set at an average level of 47 percent looked certain to be applied in August after an investigation by the commission found that Chinese manufacturers had used anti-competitive practices by ‘dumping’ panels in Europe at below cost prices.
As a result of this arrangement, Chinese companies participating in the minimum pricing undertaking will be exempted from any tariffs, whilst those which are not, will be subjected to the tariff levels originally announced in June.
In a statement of 27 July, EU trade commissioner, Karel De Gucht, said: “After weeks of intensive talks, I can announce today that I am satisfied with the offer of a price undertaking submitted by China’s solar panel exporters. This is the amicable solution that both the EU and China were looking for.
“We are confident that this price undertaking will stabilise the European solar panel market and will remove the injury that the dumping practices have caused to the European industry.
“Upon consultation of the advisory committee composed of member states, I intend to table this offer for approval by the European Commission.”