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US Probes Waaree Energies for Alleged Solar Tariff Evasion
The U.S. Customs and Border Protection (CBP) has initiated a formal investigation into Waaree Energies Ltd., India’s top solar panel manufacturer, for potentially evading tariffs on solar cells imported from China and Southeast Asia. The inquiry is based on concerns that Waaree may have misrepresented the origin of these solar products, labeling Chinese-made solar cells as being from India to bypass punitive tariffs. The investigation, which also targets Waaree Solar Americas Inc., has led to interim measures by the CBP, fueling market uncertainty and causing a drop in Waaree’s stock by as much as 5.5%. The probe ... (full story)