JinkoSolar (JKS, Financial) saw its shares rise by over 9%, reaching $24.24. The U.S. Department of Commerce recently announced plans to impose anti-dumping tariffs of up to 271% on solar products imported from Southeast Asia. This follows an earlier preliminary countervailing duty ruling in October.
Chinese companies had anticipated these tariff policies and have already taken steps such as localizing production and shifting capacity to mitigate the impact. Major solar panel manufacturers have initiated plans to build factories in the U.S. to strengthen localization efforts. JinkoSolar (JKS, Financial), along with Trina Solar and LONGi Green Energy, have announced that their U.S. production capacities are now operational.
