OMNI Features｜Washington Plans Up to 3,521% Tariffs on Southeast Asian Solar Panels．Sinopec Unveils Global Energy Forecast to 2060 at Event in Saudi Arabia

｜Washington Plans Up to 3,521% Tariffs on Southeast Asian Solar Panels

The U.S. government is considering imposing tariffs of up to 3,521% on solar panels imported from Cambodia, Malaysia, Thailand, and Vietnam, citing allegations that these products benefit from subsidies provided by the Chinese government. According to an investigation initiated in April 2024 by the U.S. Department of Commerce’s International Trade Administration (ITA), the case has been identified as a "rare example of transnational subsidization."

Solar panels from Malaysia may face an average tariff of 34.41%, while products from Cambodia could be subject to tariffs as high as 651.85%. Two Cambodian companies—Hounen Solar and Solar Long PV-Tech—have been assigned a special tariff rate of up to 3,521%, exceeding 35 times the value of their products.

This proposed measure may have significant implications for the development of offshore wind power in the United States, as the industry relies heavily on imported solar components as a cornerstone of its broader renewable energy infrastructure. If implemented, the tariffs could affect approximately USD 12 billion in imports from 2023, leading to increased costs, supply chain instability, project delays, and disruptions in investment planning. The U.S. International Trade Commission (ITC) is expected to issue its final determination by June 2.

｜Sinopec Unveils Global Energy Forecast to 2060 at Event in Saudi Arabia

China Petroleum & Chemical Corporation (Sinopec) presented its first Global Energy Outlook 2060 on April 21 during an event held in Riyadh, Saudi Arabia. This launch marks the first overseas publication of a global energy forecast report by a Chinese company. The event also saw the release of two other reports: the China Energy Outlook 2060 (2025 Edition) and the 2025 China Energy and Chemical Industry Outlook.

According to the global report, primary energy consumption will peak at 26.71 billion tonnes of standard coal equivalent by 2045 before decreasing to 25.25 billion tonnes by 2060. By that time, renewables are expected to account for 51.8% of the global energy mix; hydrogen's share in the global energy mix will increase from 2% in 2023 to nearly 50% by 2060. Carbon capture, utilization, and storage (CCUS) capacity is also set to grow, increasing from 110 million tonnes in 2030 to 4.7 billion tonnes by 2060.

The China Energy Outlook 2060 (2025 Edition) forecasts that China's primary energy consumption will plateau after 2030. Non-fossil energy-based power generation is expected to surpass fossil fuel-based power generation by 2035. "The 2025 China Energy and Chemical Industry Outlook" highlights a peak in China’s refining capacity between 960 and 970 million tonnes per year by 2025.

Reference: Energy News