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First Solar Stock Rises 6.1% Amid Reports of Biden Administration Ending Tariff Exemption for Solar Panels

First Solar Inc., the largest US solar manufacturer, saw a 6.1% increase in its stock price after a Reuters report indicated that the Biden administration is planning to eliminate a tariff exemption for two-sided solar panels. This decision has been a long-standing request from US-based solar manufacturers as it allowed module buyers to avoid tariffs imposed by former President Donald Trump. The removal of this exemption is expected to benefit US solar manufacturers by leveling the playing field and reducing competition from imported panels. While there is no specific timeline for when the exemption will be removed, the news of this policy change has already had a positive impact on First Solar’s stock price.

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