Trump Tariffs On Imported Solar Panels And Washing Machines
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ASPartOfMe
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Quote:
Pledging to defend American businesses and workers, President Trump imposed tariffs on imported solar panel components and large residential washing machines on Monday.
In a statement, U.S. Trade Representative Robert Lighthizer said that, after consulting with the interagency Trade Policy Committee and the bipartisan U.S. International Trade Commission, the president decided that "increased foreign imports of washers and solar cells and modules are a substantial cause of serious injury to domestic manufacturers."
The administration approved tariffs of 20 percent on the first 1.2 million washers and 50 percent of all subsequent imported washers in the following two years.
A 30 percent tariff will be imposed on solar panel components, with the rate declining over four years.
The move against imported solar components splits the solar panel industry with manufacturers favoring the tariffs as a necessary step to save domestic subsidiary companies, while installers oppose them as job-killers.
In a statement, U.S. Trade Representative Robert Lighthizer said that, after consulting with the interagency Trade Policy Committee and the bipartisan U.S. International Trade Commission, the president decided that "increased foreign imports of washers and solar cells and modules are a substantial cause of serious injury to domestic manufacturers."
The administration approved tariffs of 20 percent on the first 1.2 million washers and 50 percent of all subsequent imported washers in the following two years.
A 30 percent tariff will be imposed on solar panel components, with the rate declining over four years.
The move against imported solar components splits the solar panel industry with manufacturers favoring the tariffs as a necessary step to save domestic subsidiary companies, while installers oppose them as job-killers.
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Cynical critics are saying that this is not about "protecting domestic manufacturers" but rather, causing solar panel prices to rise, to benefit coal and oil.
https://www.bloomberg.com/news/articles ... energy-yet
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