President Donald Trump is once again burnishing his protectionist bona fides by slapping imported solar cells and washing machines with 30% tariffs - his most significant action taking aim at the world's second-largest economy since he ordered an investigation into Chinese IP practices that could result in tariffs.
Acting on recommendations from US Trade Representative Robert Lighthizer, Trump imposed the sliding tariffs. Solar imports will face a30% tariff for the first year, then the tariff will decline to 15% by the fourth year. It also exempts the first 2.5 gigawatts of imported cells and modules, according to Bloomberg. Meanwhile, washing machine tariffs will fluctuate on a quota-basis.
The news sent shares of First Solar, Sunpower and Canadian solar - all solar cell manufacturers - rocketing higher.
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1 comment:
The importation of solar panels should be outright banned!
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