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).
Addressing the nation, President Joe Biden is defending the way the U.S. ended its 20-year “forever war” in Afghanistan.
In his opening remarks for the Jackson Hole Economic Symposium, Federal Reserve Chair Jerome Powell signaled that the central bank could begin tapering its $120 billion in monthly asset purchases this year.
California Governor Gavin Newsom is facing a recall election in about two weeks. Newsom was elected governor in 2018 with nearly 62% of the vote after working as lieutenant governor for eight years. However, his popularity took a hit after his handling of Covid-19 pandemic, although the White House is refusing to cite this as the direct reason for the September 14th recall election. There are 46 candidates running to be Newsom's replacement, and some are saying that California could end up electing a republican governor.
Jeremy White, California politics reporter and co-writer of daily California Playbook Newsletter at Politico, joined Cheddar Politics to discuss more about the election and its possible outcomes.
President Joe Biden says the United States will complete it's evacuation of Americans and others from Kabul, despite the attack that killed 12 U.S. service members and many Afghan civilians.
Crypto-enthusiasts are taking to social media to urge regular Afghans to adopt bitcoin in the face of considerable economic uncertainty.
The U.S. economy grew at a 6.6% annual rate last quarter, slightly faster than previously estimated, the government said Thursday in a report that pointed to a sustained consumer-led rebound from the pandemic recession.
The operator of the wrecked Fukushima nuclear power plant says it plans to build an undersea tunnel so that massive amounts of treated but still radioactive water can be released into the ocean about 1 kilometer (0.6 mile) away from the plant to avoid interference with local fishing.
Two suicide bombers and gunmen have targeted crowds of Afghans flocking to Kabul’s airport, in the waning days of a massive airlift that has drawn thousands of people seeking to flee the Taliban takeover of Afghanistan.
The number of Americans applying for unemployment benefits rose for the first time in five weeks even though the economy and job market have been recovering briskly from the coronavirus pandemic.
Secretary of State Blinken said Wednesday that as many as 1,500 Americans may be awaiting evacuation from Afghanistan.
