Canadian Solar Faces Tariff Headwinds but Progresses with U.S. Solar Projects

SUGAR LAND--May 18, 2018--Researched by Industrial Info Resources (Sugar Land, Texas)--Canadian Solar Incorporated (NASDAQ:CSIQ) (Guelph, Ontario) both manufactures photovoltaic modules and constructs and sells solar farms. Since most of the company's solar modules are manufactured in China, Canadian Solar has faced some headwinds since President Donald Trump issued a 30% tariff on imported solar cells and modules under Section 201 of the Trade Act of 1974. Section 201 allows the president to grant temporary relief to U.S. manufacturers by raising import duties on goods entering the U.S. that threaten the production of domestic goods. Canadian Solar reported first-quarter 2018 net income of $43.4 million, compared with $61.4 million in fourth-quarter 2017. In the company's earnings conference call, Chief Executive Officer Shawn Qu said the invocation of Section 201 had "a major impact" on the slowdown in solar module demand in the U.S.

Within this article: Details of major Canadian Solar projects Other companies featured: Southern Company (NYSE:SO), Korea Electric Power Corporation (NYSE:KEP)