European Union member states agreed today on a deal to settle a dispute with China over solar panel pricing.
The announcement follows an agreement between the EU trade chief and his Chinese counterpart on a minimum price for panels from China near spot market prices later last week.
The row, in which European manufacturers accused China of dumping about 21 billion euros (£18billion) worth of below-cost panels on the continent, threatened to impose duties as high as 47.6% on Chinese providers.
The new agreement, which will officially be published on Saturday and come into effect on Tuesday, will exempt from duties any Chinese company that accepts its terms.
“A huge majority of member states voted in favour. No member state voted against,” said a European Commission spokesman, but declined to give more details on the terms of the agreement.
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