by InvestorPlace Staff | July 30, 2012 10:05 am
American companies looking to invest in wind power — and the turbines that power it — may want to look within their borders for towers.
That’s because the Commerce Department has announced a series of tariffs on wind towers made in China and Vietnam that are aimed at preventing the two countries from dumping their turbines on the U.S. and undercutting U.S. manufacturers.
China faces duties ranging from 20.85% to 72.69%, while Vietnam faces a tariff between 52.67% and 59.91%. Added on to other tariffs that the U.S. levies, this means that some Chinese wind turbines could face a nearly 100% tariff.
These tariffs are in the preliminary planning stages, and will be finalized by votes by both the Commerce Department and the U.S. International Trade Commission. These will happen sometime later this year, or in 2013.
This move comes on the heels of a similar decision by the Commerce Department to slap tariffs on Chinese-made solar power equipment earlier this year.
– Benjamin Nanamaker, InvestorPlace Money & Politics Editor
The opinions contained in this column are solely those of the writer.
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