USA approves controversial tariffs on imported washing machines and solar panels

USA approves controversial tariffs on imported washing machines and solar panels

Most of these products, SolarWorld has argued, come from China, which has seen a 700 percent increase in exports of solar panels to the US during that time, according to International Trade Commission data.

These tolls are part of President Trump's promise to protect American manufacturing, and he says this tax will protect American jobs and American workers. "It's just basic economics - if you raise the price of a product it's going to decrease demand for that product". As a result, the 30 percent tariff could boost overall utility-scale solar costs by perhaps less than 10 percent, and residential solar systems by a mere 3 percent, according to Bloomberg New Energy Finance.

22, the Office of the United States Trade Representative announced the Trump administration had approved a 30 percent tariff on foreign-made solar products.

Research firm Wood Mackenzie estimated that over the next five years the tariffs would reduce US solar installation growth by 10 to 15 percent.

In 2016, 40 percent of the renewable energy generated in Arizona was solar, according to the U.S. Energy Information Administration.

"We will work with the USA government to implement these remedies, including future negotiations, in the strongest way possible to benefit solar manufacturing and its thousands of American workers to ensure that USA solar manufacturing is world-class competitive for the long term".

Suniva on Monday said the tariffs were "necessary", while SolarWorld said it was "hopeful they will be enough".

The new tariffs will directly impact the cost of most new solar projects across the country.

Canada providing more aid to Yemen
The rebel faction that is in control of late has been lobbing missiles into Saudi Arabia targetting the holy cities and Riyadh . More than 10,000 people have been killed and three million displaced in Yemen's civil war.

Shunfeng rose 2.6 percent after the announcement and SolarWorld was up 22 percent.

However, the nationalistic Global Times tabloid cautioned that tariff policies worked both ways and said the Chinese government should put in place response strategies to prepare against further such moves by the USA against China.

Tempe-based solar manufacturer First Solar saw its stock price jump Tuesday morning before it settled back down to the previous day's level by late afternoon.

Globally, solar capacity soared to nearly 400 GW a year ago from under 10 GW in 2007, according to the International Renewable Energy Administration.

The news was closely watched in California, which is home to 100,000 of approximately 260,000 solar industry jobs in the United States.

In a prepared statement released yesterday, the Secretariat of Economy (SE) said that the government "regrets the United States' decision not to exclude Mexico from the measures" and will "use all legal recourses so that the USA complies with its global obligations".

The ministry said South Korea will use the meeting to deliver its stance that the tariffs are excessive and violate the spirit of the WTO, and urge the United States to ease or withdraw the measures. "The government will actively respond to the spread of protectionist measures to defend national interests".

CFRA analyst Angelo Zino said he expected any added manufacturing jobs would be "minimal" given the 18 months to two years it takes to build and ramp up a new production facility and the industry's shift toward automation.

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