Tariffs may hurt solar panel industry
The tariffs could hurt foreign solar panel makers and foreign and American distributors, and strain trade relations between the United States and China, the newspaper reported.
According to the article, U.S. customs decided early this year that because the panels contain a basic electronic device for safety and energy efficiency, they would be treated as electric generators, subject to a duty of 2.5 percent.
The decision is legally binding on most solar panels imported into the United States, the newspaper reported, noting that no one in the industry became aware of it until the last few weeks.
In the meantime, unpaid duties piled up, along with penalties that are likely to double the cost, according to the article.
The Solar Energy Industries Association, a coalition of domestic and foreign companies, argues that American tariffs on solar panels could lead other countries to impose tariffs on American exports, the article said.
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The power utility says it saw a one-time gain of $867 million in the quarter due to an Ontario court ruling on a deferred tax asset appeal that set aside an Ontario Energy Board decision.
Hydro One says the profit amounted to $1.84 per share for the quarter ended June 30, up from $155 million or 26 cents per share a year earlier.
On an adjusted basis, it says it earned 39 cents per share for the quarter, up from an…
