30% tariff makes going solar more expensive

26 January, 2018, 02:59 | Author: Mable Gonzales
  • Solar-power industry is jittery as Trump decision on tariffs looms

Defenders of the tariff note that the USA industry has gone from about 30 manufactures to just three. At best, the president can buy the fossil fuel and coal industries some extra years of dominance, which is precisely what this tariff aims to do.

The Trump administration has blamed the five-year-old deal for the growing US trade deficit with South Korea.

The move is the first major tariff decision Trump has made unilaterally in office.

Yesterday, January 22, 2018, President Trump announced the imposition of tariffs on imported solar panel components (solar cells and solar modules).

"The ITC found that U.S. producers had been seriously injured by imports and made several recommendations to the president", U.S. Trade Representative Robert Lighthizer said in a statement Tuesday. "A tariff lasting only four years and ratcheting down quickly is unlikely to attract any manufacturing investment that was not going to occur anyway".

The decision comes after the independent U.S. International Trade Commission determined that imports of solar panels and washers had hurt American companies. "It'll only be stock increases for companies that are in our country".

South Korean Trade Minister Kim Hyun-chong called Trump's decision "excessive and a clear violation" of World Trade Organization rules.

Some environmentalists see the move as risky as it has the potential to slow the development of renewable energy in the U.S., while China, the world's biggest solar panel manufacturer, said the move would further damage the global trade environment.

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"The U.S. opted for a measure that puts the domestic political situation above global rules", he said. However, that could make the market's shrinking supply even smaller.

US businesses, by comparison, are likely to cheer Mr. Trump's initiative, said Lester Ross, an attorney at WilmerHale in Beijing and the Chair of the Policy Committee at the American Chamber of Commerce in China.

Mexico said it will "use all available legal resources in response to the US decision".

And Trump has demanded the renegotiation of a US-South Korea free trade agreement, which he has slammed as a "job killer".

Trump's announcement of the new tariffs came as Mexico, the United States and Canada are meeting in Montreal, Canada, this week for the penultimate round of NAFTA renegotiation talks.

It also said that the US washing machine manufacturing industry itself had stated that damage it had suffered due to imports was not related to Mexican-made products.

The Solar Energy Industries Association predicted the tariffs would not only increase prices for consumers, but it would also kill 23,000 jobs. He said his customers probably will pay more for higher-end panels.

Samsung added that it has hired more than 600 American workers at its new factory in SC, which started producing washing machines this month. The company, which is a global leader in PV inverters, power optimizers, and module-level monitoring services, is expected to see its sales skyrocket by 61.23% in Q4.


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