JinkoSolar Holding Co., Ltd. (“JinkoSolar” or the “Company”) (NYSE: JKS), a leading global solar power product manufacturer, today commented on the U.S. Department of Commerce’s (“DOC”) final determination to impose anti-dumping duties (“AD”) of 25.96% and countervailing duties (“CVD”) of 15.24% on JinkoSolar’s crystalline silicon photovoltaic cells whether or not assembled into modules from the People’s Republic of China.
“We believe that these duties are unfair and unfounded,” commented Mr. Xiande Li, Chairman of JinkoSolar. “The ruling to impose stiff duties on JinkoSolar products does not reflect the reality of the highly competitive global solar industry and will only hinder the development of the entire PV industry. It will ultimately end up hurting US consumers, slow down the roll-out of green energy and limit job creation. Ill-conceived unilateral trade barriers such as these will reduce solar’s competitiveness against other forms of electricity generation. However, the tariffs will not impact our global strategy and we will continue to commit ourselves to promoting the prosperity of the solar industry.”
“While we respect the DOC decision, we strongly disagree with it and we will continue to actively defend our position before the International Trade Commission. Despite this setback, we believe that the impact of these tariffs on our business will be substantially limited as the United States accounted for a fairly small percentage of our total module shipments during the past twelve months. We are strongly dedicated to the success of Jinko Solar in the United States and we will soon see good results despite the inconvenience caused by the tariffs.” added Mr. Arturo Herrero, Chief Marketing Officer of JinkoSolar.