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Source: 30dB.com – Solar%20Tariffs
As part of its campaign to level the playing field in trade, the Trump Administration is imposing a 30 percent tariff on imported solar panels and modules that will phase in over the next year and then decrease to 15 percent after four year, according to CNBC. Imports make up 70 percent of all solar panels used in the U.S., according to The Sacramento Bee, and most of those come from China. The rap from the Administration is that state-subsidized companies are selling solar panel and modules at below fair-market price, undercutting U.S. manufacturers and stealing American jobs. But as Reuters points out, the tariff could have a negative effect on job creation in the U.S. — at least in the short run – and even lead to layoffs in the installation end of the industry. That may be one reason why 69 percent of social thinks the tariff is a bad idea. One solar power company is already asking for an exception. San Jose-based SunPower, which Reuters said “does most of its manufacturing in the Philippines and Mexico,” announced on Saturday that it would postpone a planned $20 million U.S. factory expansion project in light of the tariff. “We have to stop the $20 million investment because the tariffs start before we know if we’re excluded,” SunPower CEO Tom Werner told Reuters. –Hugo Guzman
Republished from 30dB