SunPower gets exemption from Trump solar tariffs, sending shares skyrocketing

Reuters reports that SunPower will be excluded from Trump’s 30 percent solar import tariffs.

The news gave a big boost to the company’s shares, sending it up 15 percent.

The exemption covers SunPower’s premium, high-efficiency interdigitated back contact (IBC) cells and modules, which the company argued stood apart from the cheap, commoditized imports that dominate the market and were the target of the tariffs.

“With today’s decision that SunPower’s highly differentiated IBC cells and modules are excluded from tariffs, we are able to turn the page,” SunPower Chief Executive Tom Werner said in a statement.

SunPower is based in San Jose, California but produces most of its solar products in Mexico and the Philippines.

The company has publicly lobbied for its products to be exempt from the tariffs, arguing the funds it was spending on duties were being diverted from investments in American jobs in research and development and domestic manufacturing.

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