Tuesday, July 30, 2013
In June, we reported (here) on a trade dispute between the European Union and China pursuant to which the EU imposed antidumping duties on solar panels from China over concerns that the solar panels were being sold for less than fair value in the EU. China retaliated by threatening to impose additional tariffs on wine from Europe.
Karel De Gucht, EU trade commissioner, announced yesterday that an "amicable solution" had been found between EU and Chinese officials regarding the matter. Pursuant to the deal, Chinese sellers of solar panels have agreed to a minimum price for their sales at least until 2015. However, the EU solar panel industry is not happy and has threatened legal action, alleging the deal is contrary to EU law.