U.S. targets China with steep tariffs on solar panels, washing machines

0
200
DOWNLOAD THE APP


WASHINGTON — The Trump administration said Monday it would impose new trade barriers aimed at protecting domestic makers of solar panels and washing machines from a recent surge of cheap imports.

The moves begin what Trump aides say will be a year of tougher trade actions, aimed in particular against China.

Read: First Solar shares jump 8% after White House OKs tariffs on solar-panel imports

“The president’s action makes clear again that the Trump administration will always defend American workers, farmers, ranchers, and businesses,” U.S. Trade Representative Robert Lighthizer said in a statement.

Specifically, the administration said it would impose tariffs on washing machines at a rate of up to 50%, with the rates phasing out over the next few years. The tariffs would be combined with quotas. Tariffs on solar modules would be as high as 30%, and be phased out over time. The solar and washer decisions are the first of what is officials have signaled will be a number of 2018 actions invoking little-used trade protection powers as he pursues his “America First” trade agenda.

An expanded version of this report appears on WSJ.com.

Also popular on WSJ.com:

Bank of America: No more free checking for customers with low balances.

China, unhampered by rules, races ahead in gene-editing trials.



Source link

READ  Dow 25,000 only brings the bull market closer to a painful end
GET ACCESS TO FREE TRAINING NOW

LEAVE A REPLY

Please enter your comment!
Please enter your name here