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).
President Donald Trump is asserting that he is the ultimate decision-maker on how and when to relax the social distancing guidelines put in place to fight the new coronavirus.
Fintech companies have long touted their ability to bank the unbanked, but the coronavirus pandemic is giving them a chance to put their money where their mouths are.
Vermont Senator Bernie Sanders endorses former Democratic rival Joe Biden for president.
Transit unions are calling for greater protections for their employees, as coronavirus has taken a heavy toll on bus drivers and train operators working on the frontlines.
Rep. John Garamendi (D-Calif. - 3rd District) believes the former captain of the Nimitz-class nuclear aircraft carrier, USS Theodore Roosevelt, deserves to be reinstated after being removed for going around the chain of command to ask for help for his virus-plagued vessel.
The Supreme Court said Monday it will hold arguments by teleconference in May in key cases, including President Donald Trump's bid to shield his tax and other financial records.
The sailor was found unresponsive on April 9 and moved to ICU at a hospital. He died Monday. The Roosevelt has been in a coronavirus crisis that prompted the acting Navy secretary to fire the ship's captain on April 2.
White House officials are pointing to hopeful signs that the spread of the coronavirus could be slowing. President Donald Trump insisted he would not move to reopen the country until it is safe.
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.
Flight attendants for American Airlines told Cheddar of frantic attempts to collect as much personal protective equipment as they can despite promises from the carrier to provide masks, gloves, and hand sanitizers for its employees.
