The European Commission on Saturday announced it had reached agreement with China over the import price of solar panels.
"We found an amicable solution in the EU-China solar panels case that will lead to a new market equilibrium at sustainable prices," said EU Trade Commissioner Karel De Gucht.
De Gucht added that he was "satisfied with the offer of a price undertaking submitted by Chinas solar panel exporters, as foreseen by the EUs trade defense legislation. This is the amicable solution that both the EU and China were looking for."
While the EC did not provide details of the agreed tariff amount, it is reportedly 0.56 per watt, or 560 per kW of capacity.
EC trade officials are scheduled to hold a press conference on Monday to announce further details of the deal.
The agreement follows weeks of intensive talks after the EC imposed provisional anti-dumping duties on EU imports of solar panels from China on June 6. The duties were to be imposed in two steps, starting with 11.8% on June 6 and increased to 47.6% on average on Aug. 6.
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