U.S. imposes preliminary 125.87% tariffs on solar imports from India, Indonesia, and Laos over subsidies, affecting stocks but not expected to harm companies long-term.

On February 24, 2026, the U.S. Department of Commerce announced preliminary countervailing duties of 125.87% on solar imports from India, with similar rates for Indonesia and Laos, citing government subsidies that distort global markets. The move triggered sharp declines in Indian solar stocks, including Waaree Energies, Premier Energies, and Vikram Solar, as investors worried about export impacts. Despite the tariffs, companies stated they expect no material adverse effect due to diversified supply chains and expanding U.S. manufacturing capacity. The final decision is pending, with a deadline set for July 6, 2026.