Overview

• U.S. Customs and Border Protection launched a formal investigation into Waaree Energies and Waaree Solar Americas on reasonable suspicion of evading anti-dumping and countervailing duties.
• The agency has applied interim measures while it examines whether imports were brought into the U.S. using falsified country-of-origin documentation.
• The probe follows an allegation by the American Alliance for Solar Manufacturing Trade Committee that China-origin solar cells were declared as Indian.
• Waaree Energies’ shares fell about 4% in early trading after reports of the investigation, and the company did not immediately comment.
• The action comes as the Commerce Department pursues separate trade cases, including an August probe into modules from India, Indonesia and Laos after earlier steep duties on products from Vietnam, Cambodia, Malaysia and Thailand.