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, Informative) by insanumingenium on Wednesday January 24 2018, @08:53PM
American industry and labor prospered after World War II, but hard times set in after 1970. For the first time there was stiff competition from low-cost producers around the globe. Many rust belt industries faded or collapsed, especially the manufacture of steel, TV sets, shoes, toys, textiles and clothing. Toyota and Nissan threatened the giant domestic auto industry. In the late 1970s Detroit and the auto workers union combined to fight for protection. They obtained not high tariffs, but a voluntary restriction of imports from the Japanese government. Quotas were two-country diplomatic agreements that had the same protective effect as high tariffs, but did not invite retaliation from third countries. By limiting the number of Japanese automobiles that could be imported, quotas inadvertently helped Japanese companies push into larger, and more expensive market segments. The Japanese producers, limited by the number of cars they could export to America, opted to increase the value of their exports to maintain revenue growth. This action threatened the American producers' historical hold on the mid- and large-size car markets.