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).
The United States is struggling to test enough people for the novel coronavirus so officials can track and control the spread of the disease.
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.
NASA and SpaceX have chosen May 27 for resuming astronaut launches from the U.S. after nine years. NASA Administrator Jim Bridenstine announced the launch date Friday.
Democratic Congressmen Tim Ryan of Ohio and Ro Khanna of California introduced legislation this week that would pay all qualifying Americans aged 16 or older $2,000 every month.
In an interview on Cheddar’s Closing Bell, the California Republican pointed to China as a major contributor to the woes the world has experienced during the outbreak.
Rep. Mikie Sherrill, along with a bipartisan Congressional delegation from both New Jersey and New York, is calling on the federal government to increase coronavirus aid to the hardest hit areas of the country due to the pandemic.
Danielle Allen, director of the center, told Cheddar that ending quarantine will require a robust social effort involving potentially thousands of workers and brand new technology solutions.
Stocks are rising at the opening of trading on Wall Street Friday as investors rallied around signs that more governments are planning phased re-openings of their economies.
President Donald Trump gave governors a road map Thursday for recovering from the economic pain of the coronavirus pandemic, laying out “a phased and deliberate approach” to restoring normal activity in places that have strong testing and are seeing a decrease in COVID-19 cases.
Seven Midwestern governors announced Thursday that they will coordinate on reopening their state economies, after similar pacts were made earlier this week in the Northeast and on the West Coast.
