Trump Tariffs Prompt Maxeon to Explore New Supply Routes

Maxeon Solar Technologies announced plans to restructure its manufacturing and supply chains in response to new sweeping U.S. tariffs imposed by President Trump. Following the news, Maxeon's shares rose 4.6% in after-hours trading.

The 10% baseline tariff, along with additional duties, affects Maxeon's legacy solar cell and module facilities. In response, the company will continue to prioritize its domestic manufacturing facility in Albuquerque, New Mexico, and seek more local component suppliers. CEO George Guo stated, "Domestic manufacturing is the right thing to do, regardless of tariffs."

Maxeon is also facing a customs dispute with U.S. CBP, which began detaining its solar panels in July 2024 under the Uyghur Forced Labor Prevention Act (UFLPA). The company’s request for further review was denied, and it is now considering legal action via the U.S. Court of International Trade to prove compliance with the UFLPA.