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).
Energy company BP says it will cut its global workforce by 10,000 jobs amid the ongoing impact of the COVID-19 pandemic.
The Trump administration is backing away from a threat to ban all flights to the U.S. by Chinese airlines. It will allow Chinese carriers to operate a total of two flights a week between the two countries.
This year, due to the coronavirus pandemic, Governor Phil Murphy's mandates have kept amusement parks, aquariums, and many local businesses on the beach closed to protect the public health.
Steve Boland, board member at Minnesota Freedom Fund, talks overwhelming support, cash bail reform, and staying active as an activist.
From Wall Street to Silicon Valley, these are the top stories that moved markets and had investors, business leaders, and entrepreneurs talking this week on Cheddar.
Stocks closed out the week with a bang after a closely watched report on the job market surpised investors by showing that employers added to their payrolls last month, defying predictions they would slash more jobs.
Negotiators for the city of Minneapolis have agreed with the state to ban the use of chokeholds by police and to require police to report and intervene anytime they see an unauthorized use of force by another officer.
On Wednesday morning, a crane lifted Philadelphia's most controversial public statue from the steps of the Municipal Services Building near City Hall.
Eugene Scalia breaks down the May jobs report. Secretary of Labor expects uptick of jobs added to continue as states reopen.
Super Bowl MVP Patrick Mahomes is among more than a dozen NFL stars who united to send a passionate video message to the league about racial inequality.
