A judge in the United States who was supervising the trade issues has blocked the administration of Trump temporarily on Thursday form the re-imposition of a few tariffs on the import of a few double-sided solar panels. The judge named Gary Katzmann of the Court of International Trade in the United States has said that this was in public interest to block the trade officials from the enforcement of the decision to eliminate the exemption for the solar panels that are called bifacial off the tariffs as the opponents are challenging it in court.
The preliminary injunction of Katzmann is being seen as a loss for the manufacturers domestically and has caused a few shares to fall. However, it is a win for a few developers of the solar farm including the Invenergy Renewables LLC, which is based in Chicago, who favors this exemption. In the trading on Thursday, First Solar Inc.’s shares had ended 4.5% and, at the same time, the shares of SunPower Corp. had fallen by 3.9%.
In January of 2018, the United States had imposed the duties on the imported solar panels which began at 30%. The domestic manufacturers who had sought these tariffs like SolarWorld and Suniya had said at that time that they will not be able to compete with the cheap imports coming in from the producers in China that had caused the prices of the solar panels to drop over 30% since the year 2016.
Invenergy who had sued the administration said in their statement that the court went on to adopt almost all of the arguments and that they will be reviewing the order and preparing the next steps.