President Donald Trump’s attempt to create U.S. jobs by taxing solar panel imports could backfire.
That’s according to the CEO of the Solar Energy Industries Association trade group, who says it’s domestic workers that will feel the pain.
“We have been the fastest growing form of new energy...and this is putting the brakes on that crazy growth,” Abigail Ross Hopper told Cheddar in an interview. “These are not people who are looking for what nationality the company they work for is. They just want to feed their families and pay their mortgages. And those are the people whose jobs are at risk.”
Earlier this week President Trump signed a law that would impose a 30 percent tariff on imported solar panel and sells, a move the administration says will encourage domestic manufacturing.
But the SEIA says the vast majority of the 260,000 Americans employed in the industry work in peripheral industries like installation. Ross Hopper says the bill will result in 23,000 layoffs this year and delay or cancel billions of dollars of investment in the sector.
She also says it might dissuade U.S. consumers from going green.
“Most [businesses and consumers] want to choose solar because it saves them money,” she said. “This decision changes that calculus.”
For full interview [click here](https://cheddar.com/videos/solar-power-in-america).
U.S. stocks saw a jump in the final hour of Thursday's session, and ultimately closed slightly higher for the day. Tim Pagliara, Chief Investment Officer of CapWealth, joined Cheddar News' Closing Bell to discuss. "The markets have had to digest a lot of action from the federal reserve this quarter and it's affecting everything from mortgage rates to how they value stocks," he said.
Rukmani Bhatia, Senior Federal Affairs Manager at Giffords, joined Cheddar News' Closing Bell to discuss the importance of regulating ghost guns as a way to curb U.S. gun violence, which kills more than 40,000 Americans every year.
Gary Schlossberg, Global Strategist at Wells Fargo Investment Institute, joined Cheddar News' Closing Bell to discuss the dire situation caused by Russia's war on Ukraine, as the region is key for exporting grains and corn, and as the UN Food & Agriculture Organization says food prices rose to the highest levels ever in March.
Christine McDaniel, Senior Research Fellow at the Mercatus Center, joined Cheddar News' Closing Bell to break down the long list of sanctions that the U.S. has levied against Russia since its invasion of Ukraine, and the impact - or lack thereof - they are having on Russia.
President Joe Biden is taking fresh aim at “ghost guns" and also announced the nomination of Steve Dettlebach, who served as a U.S. attorney in Ohio from 2009 to 2016, to run the ATF.
Stefanie O'Connell Rodriguez joined Cheddar's Opening Bell to discuss her newest mini-series on REAL SIMPLE's Money Confidential podcast, called 'Taxes in 10.'
As the Russian invasion of Ukraine continues, social media giant Meta said that it's using its technology to help the beleaguered nation Erin Egan, chief privacy officer, and Andrew Schroeder, vice president of research and analysis for direct relief, joined Cheddar News to discuss using data towards humanitarian relief. "Our goal with the program is to help organizations on the ground by sharing privacy-protected data sets to enable them to respond to crisis," Egan explained.
Catching you up on what you need to know on April 11, 2022, with updates on the Russia-Ukraine War, France’s presidential election, the record deforestation of the Amazon Rainforest, retail giant Amazon's objection to the Staten Island union vote, the worsening baby formula shortage, a lawsuit against Rutgers Law School, and a stomach illness possibly linked to Lucky Charms cereal.
Between Bells executive producer Conor White recaps some of the biggest stories of the week, and teaches Baker Machado and Hena Doba a thing or two at the same time. It's This Week In Trivia!
