Shares of JinkoSolar Holding Co. Ltd. (NYSE: JKS) surged nearly 7% in premarket trading on Tuesday amid reports that the U.S. Department of Commerce is considering revoking antidumping and countervailing duties on solar products imported from China.
The potential removal of these tariffs, implemented in 2012 and 2015 respectively, would be a major boon for JinkoSolar and other Chinese solar panel manufacturers. It would make their products more cost-competitive and profitable in the large and lucrative U.S. solar market.
As one of the world's leading solar companies based in China, JinkoSolar has felt the impact of the trade duties on its exports to the United States. Lifting these tariffs could unlock significant growth opportunities and improved margins for JinkoSolar in the years ahead.
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