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).
Russian forces escalated their attacks on populated urban areas Tuesday, bombarding the central square in Ukraine’s second-largest city and Kyiv’s main TV tower.
A bipartisan group of 43 representatives joined forces in a letter to President Joe Biden to remind the executive branch that it must seek the approval of Congress before authorizing a war — whether or not its in Ukraine as Russia continues its invasion. Rep. Peter DeFazio (D-Ore. 4th District) led the effort and joined Cheddar News Wrap to explain. "It's time for Congress to get back the authority, which is vested to us in the constitution, not in the executive branch," he said. "The president. once we're at war, we speak with one voice with the commander in chief. But before that, it's up to the American people and Congress whether or not we're going to become engaged in a war."
Chris Konstantinos, Chief Investment Strategist at RiverFront Investment Group, explains why he remains encouraged about the S&P and the state of the market despite the major indexes closing mostly lower on Monday.
President Joe Biden will be delivering his first State of the Union address on Tuesday night, and with so many issues from Ukraine to inflation, everyone will be focused on what he might say. Rep. Nicole Malliotakis (R-N.Y. 11th District) joined Cheddar News to discuss what she thinks the president should address. "I think what he hasn't done yet is go after the gas, the oil, the minerals, the mining industries, that is incredibly important," she said. "There's still some banks there that are not sanctioned. He needs to go after all the banks, but I also think that providing the equipment that Ukraine needs to continue to protect its capital and its country are incredibly important."
As Russia’s attack on Ukraine continues, one of its few big allies remaining appears to be China. Gordon Chang, Asian affairs expert and author of "The Coming Collapse of China," joined Cheddar News to discuss what might be behind China's support for Putin's current strategy. “I think China is looking at what Putin did yesterday, which is to raise his nuclear forces on a higher alert level,” Chang stated, “If they see that Putin gets away with his nuclear threats, which he's been making over the last three or four days, then I'm sure that Beijing is going to ramp up its threats as well, and it could ramp them up against any number of different countries with which it perceives it has a problem with"
Joel Rubin, president of the Washington Strategy Group and former Deputy Assistant Secretary of State, joins Cheddar News to discuss the Russia-Ukraine tensions and the new sanctions President Biden placed on Russia.
