U.S. Tariffs Derail Cambodia’s Solar Boom

Here’s a summary of the provided text:

The Cambodian solar industry experienced a boom ⁢between 2018 and 2022, with numerous factories opening and creating jobs. ‍This growth was fueled by companies seeking to circumvent US tariffs on ‍chinese solar products. However, this boom ended when the US, under the Trump management, imposed high tariffs (534% to 3,403%) on Cambodian solar modules after a two-year waiver expired in mid-2024.

As an inevitable result, Cambodian solar exports plummeted, and many factories closed. Companies like Jintek photovoltaic Technology and Solar Long PV Tech ceased operations, while others like Hounen Solar significantly reduced their workforce.

Some companies, such as Venus Energy and VCOM Power System,⁢ attempted to adapt by shifting production ‍to thin-film panels, which face lower⁤ tariffs. However, even these companies⁣ are struggling and fear further tariff increases.

Cambodian producers deny US⁢ claims of transshipping Chinese-made products, arguing that they invested heavily in local production and are monitored by the Cambodian ‍government.