Trump solar tariffs reverberate in India, China's biggest buyer

President Trump Approves Relief for U.S. Washing Machine and Solar Cell Manufacturers | United States Trade

Five Solar Firms That Actually Stand to Gain From Trump's Tariff

USA slaps tariffs on some imported solar cells, washers.

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

At an Oval Office event at the White House, he said that several steps taken by his government to protect American businesses and manufacturers were being appreciated by the people and the stock market.

Solar industry experts have argued the tariff would actually lead to thousands of layoffs and raise consumer prices instead of allowing the companies to compete better with foreign goods, which are often produced at a lower cost.

"The United States possesses the talent, expertise, and vision to surpass the rest of the world in solar technologies and forge a new solar energy landscape around the globe", the secretary said. The panel concluded that under the proposal, coal and nuclear plants would be compensated "regardless of need or cost to the system", an idea that would not be "just or reasonable".

The move is in line with President Trump's "America First" trade policy.

First Solar, a solar panel manufacturer based in Arizona, spiked 8% on the news.

Tariffs are not only being imposed on imported solar panels but also on imported washing machines.

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The 30 percent tariff on imported panels in the first year will decline over four years, and 2.5 gigawatts of solar cell imports will be exempted each year.

Trump said Tuesday that "there won't be a trade war" because of the new tariffs.

A separate advocacy organization, the Solar Energy Industries Association, warned before the tariffs were announced that such an action would put 48,000 to 63,000 American solar industry workers out of a job this year.

The U.S. solar industry was split over the trade barriers. Only 14 per cent of those 260,000 jobs are in panel manufacturing, the majority are involved in installation and associated products.

The US ITC investigation into solar imports was launched following complaints from US companies Suniva, a bankrupt Chinese-owned firm, and SolarWorld, owned by a German concern that declared insolvency in May. "This tariff is a tax on every consumer who wants to buy a washing machine".

Sun Solar will not have to increase prices due to the supply of solar panels they acquired through a contract with a company in Canada.

Terming the tariffs as "excessive" and "regrettable", South Korea said it would complain to the World Trade Organisation (WTO), while China, the world's biggest solar panel manufacturer, said the move would further damage the global trade environment.

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