Trump Imposes 30% Solar Panel Import Tariff

24 January, 2018, 11:17 | Author: Dustin Murphy
  • Trump Imposes 30% Solar Panel Import Tariff

Chinese officials have repeatedly accused Trump of jeopardising worldwide trade regulation by imposing penalties under U.S. law instead of pursuing a WTO complaint.

"Consumers should be the ones to decide what washers they want to buy based upon their own preferences, not because of unjustified trade penalties imposed on products by the US government", said LG Electronics USA, a unit of South Korea's LG Corp.

German Finance Minister Peter Altmaier told reporters in Brussels that the European Union opposed protectionism and said that the measures would make products more expensive for Americans. Those countries export the bulk of washers to the United States.

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. Yingli Green Energy Holding Co.

"The United States has opted for measures that put political considerations ahead of global standards", Kim told a meeting of industry officials.

Almost 30 USA solar-manufacturing facilities had closed in the past five years, they said, as China plotted to flood the global market with cheap products to weaken U.S. manufacturing.

China is the United States' biggest trade partner nation but Trump has often hit out at what he calls unfair practices by Beijing, accusing it of killing USA jobs.


Last week, Kudlow said President Trump is reluctant to completely withdraw from the North American Free-Trade Agreement with Mexico and Canada because it would send the stock market into a tailspin.

India has recently re-opened a USA dispute, alleging Washington has failed to comply with a ruling on solar power.

The Dollar Index, a measure of the greenback against a basket of currencies, fell 0.2 per cent after US Trade Representative Robert Lighthizer announced plans to impose a new 30 per cent tariff on imported solar panels and tariffs of up to 50 per cent on residential washing machines.

Supporters hope the tariff will encourage increased domestic solar manufacturing. "But the reality on the ground is deploying these tariffs will destroy American jobs and negatively impact anyone who wants to participate in and benefit from clean energy". What the tariffs will do Trump approved tariffs of 20 percent on the first 1.2 million washers and 50 percent of all subsequently imported washers in the following two years. On the losing side, overseas appliance producers will hurt, but tariff levels for some solar panel makers based outside the United States may not be as steep as they had expected.

The President's final decision was in line with the ITC's recommendations.The first 2.5 gigawatts (GW) of imported solar cells will be exempt from the safeguard tariff in each of those four years. It had recommended in October a tariff of on solar cells of about 30 percent and a tariff on solar panels between 10 percent and 35 percent.

"After a year's preparation, Trump is ready to take action to address the huge trade deficit with China and get even", said Zhang Yi, chief economist at Capital Securities in Beijing.

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