WSJ reports that South Korea is close to an agreement with the US worth more than $100 billion dollars in investments.
Wall Street Journal reported Thursday that the South Korean government was preparing to announce an 'energy investment project worth more than $100 billion in the United States,' aimed at boosting the artificial intelligence?buildout. According to the report, which cited people "familiar" with the issue, the deal would see South Korea finance the construction of eight nuclear power stations and a project involving natural gas.
US tariffs threaten to halt copper's surplus, as prices reach a new high
Analysts say that the prospect of U.S. tariffs on imports could drive copper prices to record levels, even though there's no shortage of the metal in the world. This is because the incentive to ship to the United States will drain inventories from other countries. After recent orders to remove 65,400 metric tons of copper from LME storage, the price of three-month 'copper' on the London Metal Exchange reached as high as $14,343 per metric ton.
US sets preliminary antidumping duty on solar imports of India, Indonesia and Laos
The U.S. Commerce Department announced preliminary antidumping duty on'solar panels and cells imported from India, Indonesia, and Laos. This is the latest in an arbitrary series of tariffs that have been imposed on solar imports for over a decade. Federal trade officials found that the companies from the three countries had dumping cheap goods on the U.S. market and undercutting American manufacturers.
U.S. Trade Action Deals Blow to Indian Solar Makers
Analysts and representatives of the industry said that India's plans for strengthening its?position on the U.S. Solar market have been stymied by Washington's decision to impose steep anti-dumping duties?on solar panels and cells?shipped primarily from a few?Asian hubs. U.S. Commerce Department determined on Tuesday that manufacturers in India, Indonesia, and Laos received…
The US imposes preliminary duties on solar imports originating from India, Indonesia and Laos
The U.S. Commerce Department announced Tuesday countervailing duty?on solar panels and cells imported by a?companies from India, Indonesia, and Laos?in an effort to counter subsidies supporting Asian industries. The decision was made by U.S. Trade officials who sided with the domestic solar factory owners, finding that the companies in the three countries had received government subsidies which rendered American products uncompetitive.
Wall Street Journal, October 23,
These are the most popular stories from the Wall Street Journal. These stories have not been verified and we cannot vouch their accuracy. As frustration grows in Washington over the conflict in Ukraine, U.S. president Donald Trump announced new substantial sanctions against Russia's largest oil companies, Lukoil, and Rosneft. He also targeted nearly 30 of their subsidiaries. U.S.
US Opens National Security Investigation into the Import of Wind Turbines
The U.S. Commerce Department said on Thursday it has opened a national security investigation into the import of wind turbines and components.Earlier this week, the department said it was adding wind turbines to a list of products that will face 50% tariffs on the aluminum and steel content. The "Section 232" investigation, which was opened on August 13 but not made public until now…
First Solar increases its annual sales forecast, expecting higher prices due tariffs
First Solar increased its annual sales forecast for Thursday as the U.S. manufacturer of solar panels expects higher prices after additional tariffs against foreign-made products. After the bell, shares of the Tempe-based Arizona company rose by over 4%. Solar industry is bracing itself for the impact of U.S. president Donald Trump's policies on renewable energy and his plans to impose a tariff on most imports. The U.S.
India's Waaree Energies claims that the US anti-dumping investigation won't hinder solar ambitions
Waaree Energies, a manufacturer of Indian solar panels, said Tuesday it was "confident" in its exports to America and that it would be prepared to respond to any anti-dumping investigation. This came after a group of solar manufacturers accused the company of undercutting their prices. The U.S. Commerce Department has reviewed a petition submitted on 17 July by a group domestic U.S. Solar companies seeking tariffs against imports from India.
US launches national security investigations into imported polysilicon, drones
The U.S. Commerce Department announced on Monday that it had opened national security inquiries into the importation of drones, related components and polysilicon. Polysilicon is a critical component in solar cells and semiconductors. The "Section 232", investigations that were launched on July 1, but had not been publicly announced before, could serve as a basis to impose even higher tariffs for imported drones, polysilicon, and derivatives thereof.
US finalizes tariffs against Southeast Asian solar imports
U.S. Trade officials finalized tariffs on solar panels and cells from Southeast Asia. This is a major step in settling a trade dispute that has been raging for a year, with American manufacturers accusing their rivals overseas of flooding the market unfairly with cheap goods. The Commerce Department imposed preliminary antidumping, antisubsidy, countervailing duty on solar equipment imported from Malaysia, Cambodia Thailand and Vietnam last year.
Oil Falls on Demand Worries, Market Awaits Fed Advice
Oil prices eased about 1% to a one-week low on Tuesday on demand worries following the release of negative economic news from Germany and China, while investors remained cautious ahead of a U.S. Federal Reserve decision on interest rates.Brent futures fell 90 cents, or 1.2%, to $73.01 a barrel by 1:36 p.m. EST (1836 GMT), while U.S. West Texas Intermediate crude slipped 86 cents, or 1.2%, to $69.85.
Cambodian solar firms not cooperating in US tariff probe
Documents filed with the Department of Commerce indicate that two Cambodian solar companies have decided to stop cooperating with an investigation by the U.S. Commerce Department into accusations they were flooding the market with panels at prices below their cost of manufacture. Solar Long and Hounen Solar stated in separate letters, dated October 15, that they could no longer devote resources to the antidumping investigation.
The US has imposed preliminary new tariffs on solar imports from Southeast Asia
The U.S. Commerce Department announced on Tuesday anti-subsidy, countervailing duty on solar cells imported from Vietnam, Cambodia and Malaysia. A preliminary decision published on Commerce's site shows that the agency has calculated tariff rates ranging from 0.14% to 3,293.61% depending on the company for solar cells from four Southeast Asian countries. Next year, a final decision will be taken.
US Energy Companies Fume over Rejected Steel Tariff Exemptions
The U.S. Commerce Department recently granted a tariff exemption to oil major Chevron for its imports of 4.5-inch Japanese steel tubes for oil exploration.But the department rejected a similar request from Borusan Mannesmann Pipe to exclude 4.5-inch steel pipes imported from Turkey for casing used to line new oil wells.The reason: multiple U.S. steelmakers objected to Borusan's application, arguing they could supply the product, according to the department.
US Oil Pipeline Companies, Producers Seek Relief from Steel Tariffs
Major U.S. energy companies including Plains All American Pipeline, Hess Corp and Kinder Morgan Inc are among many seeking exemptions from steel-import tariffs as the United States ratchets up trade tensions with exporters including China, Canada and Mexico.There have been nearly 21,000 requests overall for exclusions submitted to the U.S. Commerce Department since the Trump administration imposed levies this year.
U.S. Energy Pipeline Developers to Seek Exemptions to Steel Tariff
U.S. energy pipeline developers say they intend to pursue exemptions to the Trump Administration's proposed steel tariffs, as concerns grow for those companies and from key exporters to the United States like South Korea. "We have a number of pipeline projects that would be impacted significantly by this cost increase," said Adam Bedard, chief executive of Arb Midstream, an energy transportation and marketing company. He was referring to the U.S.
US Marine Sanctuary Oil Drilling Report Sent to Trump, Not Public
U.S. Commerce Department Secretary Wilbur Ross sent a report to the White House on Wednesday containing recommendations on whether to change the boundaries of 11 marine sanctuaries to allow more oil and gas drilling, but the report was not made public. Commerce reviewed sanctuaries containing 425 million acres of coral reefs, marine mammal habitats and pristine beaches, as part of an administration strategy to open new areas to oil and gas drilling.
Energy Industry Says 'No Thanks' to Trump Offer of Marine Sanctuaries
In a bid to boost energy development, U.S. President Donald Trump’s administration is considering shrinking or eliminating 11 marine sanctuaries designed to protect 425 million acres of coral reefs, marine mammal habitats and pristine beaches. The review is part of a broader strategy to open new areas to oil and gas drilling and “put the energy needs of American families and businesses first,” according to the order Trump signed in April that triggered it.
Argentine Biodiesel Industry: U.S. Duties Will Halt Exports
Argentine biodiesel exports will be priced out of the U.S. market, its leading industry body said, after Washington decided on Tuesday to impose steep duties on imports that it said were unfairly subsidized. The countervailing duties on soy-based Argentina biodiesel could be as much as 64.17 percent, according to a statement from the U.S. Commerce Department. Duties of up to 68.28 percent will be imposed on palm oil biodiesel imports from Indonesia.