Trump administration imposes tariffs on imported solar cells and modules at 30% and certain washing machines up to 50%:
This new determination sets tariffs on imported solar cells and modules at 30 percent with a gradual decrease of that tariff over the subsequent four years. In years two, three, and four, the tariff will be imposed at 25 percent, 20 percent, and 15 percent, respectively, of the value of the import. The first 2.5 gigawatts of imported solar cells imported are exempt from the tariff (but it seems that a similar provision was not made for solar modules). Though the executive branch has broad authority to impose whatever tariff it wants after the ITC finds that an industry has been harmed by imports, this tariff decision closely matches the middle-ground recommendation made by two of the four-person ITC's commissioners. Those commissioners recommended a 30-percent tariff on modules and a 30-percent tariff on imported solar cells in excess of 1GW, with declining rates after the first year.
Whirlpool shares rise after Trump tariff on washing machine imports
The new tax is expected to hit Trump's desk on Tuesday. The administration is imposing 20% tariffs on the first 1.2 million machines imported each year, and 50% on those after that. There will also be a 50% tariff on washing machine parts.
Naturally South Korea and China are upset and plan to argue their case at the WTO. From the articles I read this morning there should be a boost to US manufacturing but the gains may all be offset by the losses with people not wanting to pay more for solar. I think regardless of price people will do solar for solar's sake, but there is sure to be some impact on sales and installation jobs.
Guess I should have bought that 30% off washing machine at the Sears going out of business sale.
(Score: 3, Insightful) by Anonymous Coward on Wednesday January 24 2018, @07:06PM (3 children)
Yet he is going to give a speech tomorrow at Davos arguing that his policies are not protectionist and that he is all for free trade! He flip-flops so many times I can't remember what he said he was going to do.
He said (among many many things) that middle class taxes would see the biggest cuts, that you'd be able to do your taxes on a 3x5 card, that they were only going to focus deportation efforts on the "bad hombres", that the "Dreamers" had nothing to worry about and that he'd take care of them, that not only would everyone not lose health coverage, that it would be much better and cheaper, that we weren't going to be "nation building", etc., etc., etc.
Riddle me this Batman: why is he so hell-bent on wasting billions of dollars on an ineffectual wall? He said he was going to build one, sure, but pretty much everything else he said he has not only not done, but in many cases has done the opposite.
(Score: 0) by Anonymous Coward on Wednesday January 24 2018, @11:31PM (2 children)
For two reasons: he wants to put his name on it, and he wants a structure that he will claim can be seen from the moon.
(Score: 1, Troll) by TheGratefulNet on Thursday January 25 2018, @04:15AM (1 child)
its for his base.
the racists love that shit.
that's the only people that like it. that, and the construction crew.
yeah, total fucking waste of time and money, but we don't have a rational person in the WH, we have the worst of the worst.
truly a 'bad hombre' is running things now.
"It is now safe to switch off your computer."
(Score: 2) by tonyPick on Thursday January 25 2018, @08:20AM
"On some great and glorious day the plain folks of the land will reach their heart's desire at last and the White House will be adorned by a downright moron."
H.L. Mencken, The Evening Sun, July 26, 1920.