US Solar Tariffs Roil India’s Glut-Stricken Panel Makers (1)

A new, 126% US tariff on solar imports from India has battered shares in major exporters, as investors brace for the impact on a once-booming industry already struggling with overcapacity and price pressure.

The Trump administration set preliminary duties this week, following petitions filed by US solar manufacturers last year. They had argued that Chinese companies were flooding the American market with unfairly subsidized products made in countries in South and Southeast Asia — including India.

Indian solar manufacturers expanded rapidly in recent years, relying heavily on sales to a lucrative US market that is now effectively sealed off. Shares ...