China’s Solar Giants Fall After U.S. Climate Plan Setback

The Build Back Better Act, rejected in a surprising decision by Senator Joe Manchin, would have included a record $550 billion for climate measures in the U.S. Photo: Bloomberg

(Bloomberg) — Solar firms in China fell Monday after a $2 trillion U.S. economic plan with crucial climate provisions suffered a potentially fatal setback in Congress.

Trina Solar Co. fell as much as 7.7% and Longi Green Energy Technology Co. slipped as much as 3.3% in Shanghai. The Build Back Better Act, rejected in a surprising decision by Senator Joe Manchin, would have included a record $550 billion for climate measures in the U.S., the world’s second-biggest market for renewable energy after China.