TAIPEI (Taiwan News) — Taiwanese solar panel makers could look to benefit from heavy US tariffs on rival Southeast Asian producers. 

The US Department of Commerce on Monday announced plans to impose tariffs of up to 3,521% on solar panels from four Southeast Asian countries, where Chinese companies have set up factories to evade tariffs from Trump's first term, per BBC. Taiwanese solar panel manufacturer TSEC said the move would lessen competition from those countries in the US market, but urged the government to beware of a potential surge of solar panels from Southeast Asia, per CNA. 

TSEC said the US previously imported most of its solar panels from Thailand, Vietnam, Cambodia, and Malaysia. The firm said the new high tariffs will help reduce competitive pressure faced by Taiwanese manufacturers in the American market.

Fueled by active capital inflows, stocks of solar companies surged Tuesday. Firms like TSEC, Gigastorage, Giga Solar Materials, United Renewable Energy, Anji Technology, Motech Solar, and Tainergy Tech hit the upward daily price limit.

TSEC also pointed out that before the final ruling, the four Southeast Asian countries had rushed products into the US, and it may take time to clear this inventory. In addition, the company warned that whether these countries need to offset their large production capacities by dumping solar panels in Taiwan warrants attention.