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).
Damian Mason, farm owner, agricultural economist and author of "Food Fear" joined Cheddar News to talk about how the Russian invasion of Ukraine is putting pressure on commodities, which could lead to a 20 percent price hike according to the United Nations. “Russia and Ukraine are responsible for about 35 percent of exports, 35 percent of grain exports, specifically wheat,” said Mason. He also added, "You've got Russia saying, 'we're going to hoard and hold back our wheat,' which of course crimps global supply, and you've got Ukraine that maybe won't even get harvested."
In order to qualify for one of the coveted first retail licenses in New York's adult-use cannabis program, you'll have to have a conviction on cannabis-related charges or have an immediate family member who does. It's part of the latest effort by New York lawmakers to create a diverse and inclusive industry — but some advocates still have reservations. Amber Littlejohn, the executive director of the Minority Cannabis Business Association, joined Cheddar News' Closing Bell to discuss. "We definitely applaud the state of new york, but ultimately the devil will be in the details as to whether or not this actually works out to create equity in the cannabis industry," she said.
David Daley, senior fellow for FairVote, joins Cheddar News to discuss the Supreme Court denying the GOP's challenge to congressional maps in North Carolina and Pennsylvania.
With the Russian invasion of Ukraine raging on, millions have turned to TikTok to stay up-to-date on the latest developments and get a first-hand look. The social media platform has been so prominent that the war has been dubbed "the first TikTok war" by many publications — and even the White House has taken notice. The Biden administration held a virtual briefing with 30 social media creators to discuss their role in communicating to their followers by countering what it deems as being misinformation. Ellie Zeiler, an 18-year-old TikTok star who attended the briefing, joined Cheddar to talk about the conference and her responsibilities as a social media creator. "How could you not be a little nervous or scared when you're getting your information and media all from this app? But also then you think back to, I guess, when media was changing between newspapers and TV, and I'm sure people were nervous about that too," she said. "So the fact is, is that people do really look to Tiktok and social media for their news."
U.S. markets closed the day at session lows as the Dow marked its fifth straight week of losses. Investors continue to weigh inflation and the ongoing Russia-Ukraine war and growing economic risk factors. George Seay, CEO of Annandale Capital, joins Cheddar News' Closing Bell to discuss.
U.S. stocks ended Thursday's session lower as new CPI data show inflation continues to rise and the Russia-Ukraine war continues. Philip Palumbo, founder, CEO, & Chief Investment Officer of Palumbo Wealth Management, joins Cheddar News' Closing Bell to discuss.
