First Solar (FSLR) shares were up more than 6% in Tuesday's premarket activity after its southeast Asian solar panel rivals were struck with US tariffs Monday as part of a lawsuit the company filed last year.
The lawsuit was filed by First Solar, South Korea's Hanwha Q Cells, and others. It alleged that Chinese solar companies with production plants in Malaysia, Cambodia, Thailand, and Vietnam were flooding the US market with artificially low prices to drive out competitors, Reuters reported.
The combined tariffs and anti-dumping penalties imposed go as high as 3,500% for producers in Cambodia, according to the website of the US International Trade Administration.
Jinko Solar (JKS) products made in Malaysia were struck with combined duties of 40.3%
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