Trump’s Radical Solar Tariff Just Killed a 20 Million Dollar Investment

Trump’s Radical Solar Tariff Just Killed a 20 Million Dollar Investment

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Showing his contempt for anything that benefits the planet and creates better jobs for Americans, Trump unsurprisingly slapped new 30 percent tariffs on imports of solar panel equipment on Monday, which is already having devastating consequences on the renewable industry.

According to Reuters, Solar energy company SunPower, for example, announced on Thursday that it’s halting a $20 million investment in new factories and hundreds of new jobs after the Trump administration imposed federal tariffs this week. In what appears to be yet another petty act of undoing anything decent Preindt Obama ever did, the tariffs will kill an industry that has thrived in the United States in recent years. Moreover,  cheap solar panels imported from China allowed the industry to become competitive with coal-fired power plants and natural gas.

Nevertheless, the California-based solar company says it will not move on with its ambitious project in its state and Texas if Trump doesn’t grant them an exemption.

We have to stop the $20 million investment because the tariffs start before we know if we’re excluded, SunPower Chief Executive Officer Tom Werner told Reuters. Although the tariffs go into effect on February 7th, rules for requesting an exclusion will not be released until February 22nd.

The majority of Trump’s supporters were and remain to be coal workers after he promised them higher paying jobs during the 2016 President Campaign. Employing fewer workers than Arby’s, it’s quite obvious the coal industry is a dying field, and investing in coal jobs is like investing in jobs at Blockbuster Video.

Even if Trump intended for the tariff to protect American manufacturing jobs, it’s actually doing the total opposite since many solar experts see it as a major hindrance to solar panel production. To be more precise, roughly 80 percent of the $28 billion industry depends on parts made abroad. Although SunPower is based in San Jose, California, most of its production parts come from the Philippines and Mexico.

We pay a higher tariff despite the fact that it’s an American technology, Werner told Reuters.

Again, anything that can help the environment and create better-paying jobs for Americans is apparently bad for Trump so, therefore, we all have to suffer.

Featured image via Blue State Daily Archives