Chinese Solar Firms Accelerate Global Expansion Amid U.S. Tariff Truce

Chinese solar companies are expecting to gain a more stable trade economy amid a 90 day tariff truce between the US and China. These solar companies will expand their business into international markets. This statement about expansion was given by company executives in a briefing hosted by Shanghai Stock Exchange this week.

Chinese solar production has been restricted by the US through imposition of tariffs for more than a decade. To challenge this move of America, China had previously set up its operations in countries which were not affected by duties at that time. But at present, Trump’s tariff policies and duties on four Southeast Asian countries has caused the relocation of the company at present.

Chairman of Jinko Solar Co., Xiande Li, said, “The easing of tariff policies between China and the US is conducive to providing a relatively stable overseas trade environment for the solar and energy storage sector. ” He also stated that this opportunity will be utilized to diversify the global supply chain.

Jinko is planning on enhancing its capacity in the Middle East with a 10-gigawatt solar cell and module project in Saudi Arabia. This particular project has been a joint venture between the Kingdom’s Public Investment Fund and Vision Industries. The company has recorded exports of almost 60 percent in the year 2024.

Chief Executive Officer of CSI Solar Co., Zhuang Yan said, “The reciprocal tariffs between the US and China would have a relatively small impact as there is no direct solar export from China to the US with the existing duties.” Zhuang Company is also looking forward to expanding its business in the Middle East, but will be prioritizing other global competitive markets.