JinkoSolar (JKS) stock is surging 5.02% in intraday trading on Tuesday, as investors react to news of potential US tariffs on solar panels from Southeast Asian countries. This development could potentially benefit Chinese solar panel manufacturers like JinkoSolar.
The US government is planning to impose levies of up to 3,521% on solar panels from four Southeast Asian countries, according to a recent report. This move is aimed at cracking down on the practice of Chinese firms shipping their products through Southeast Asia for "minor processing" before exporting to the US to avoid tariffs.
JinkoSolar, along with other Chinese solar panel manufacturers, has been accused of engaging in such practices. The proposed tariffs on Southeast Asian solar panels could level the playing field for Chinese manufacturers in the US market, potentially boosting their competitiveness and market share. This prospect appears to be driving the positive sentiment around JinkoSolar's stock today.
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