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Trump puts America First with tariffs
February 19 2018, 07:56 | Irvin Gilbert
President Donald Trump is approving tariffs on imported solar-energy components and large washing machines in a bid to help US manufacturers.
President Trump's decision follows from the U.S. International Trade Commission ("ITC") finding in September 2017 in connection with a trade case filed by two U.S. -based solar manufacturing companies that solar panel imports were harming domestic businesses operating in the solar industry. "In addition, emerging markets such as India is likely to draw more Southeast Asian production to feed its solar capacity growth", Yu wrote. It will fall to 25% in the second year, 20% in the third year and 15% in the fourth year. For consumers, the result could be higher prices for both washing machines and solar panels.
"Our action today helps to create jobs in America for Americans", Trumpsaid during the signing at the White House.
"Although we are now building the largest solar cell and module manufacturing plant in the United States, we still oppose the petition", Tesla toldAxios.
According to the report, the direct exports to the United States constitutes 9 percent of Malaysia's total outbound shipments, and more than half of the exports are electrical and electronic products and other manufactured goods.
MIDF Research said export growth to the U.S. could decelerate by between 3% and 5%, as the new tariffs on solar panels and washing machines will affect Malaysian manufacturers.
"The U.S. has repeatedly instituted trade-restricting measures to the same type of product". Unlike First Solar, Vivint is not vertically integrated and relies on several small suppliers for parts.
Tesla had remained largely quiet in the solar panel tariff debate.
Washington will impose tariffs of up to 50 percent on large washing machines over a three-year period and up to 30 percent on solar panels over four years. The Trump administration is considering penalties on steel and aluminum imports.
Our local solar companies, like Atlasta Solar Center, said they're already feeling the effects.
The move is especially important to the people of OH who have seen their Whirlpool plant lose business to South Korean companies such as Samsung and IG.