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).
Binance, a global cryptocurrency exchange and cloud services provider, is optimistic the shift toward digital currency in China will only bolster the adoption and acceptance of encrypted currencies.
U.S. stocks fell in midday trading Tuesday, a day after the market's biggest drop in two years, as traders worry that the spreading coronavirus will threaten global economic growth.
A new band of comic-book heroes is taking on digital human rights and privacy in the 21st century,
The former CEO of CKE Restaurants and a Republican once tapped to be President Donald Trump's Labor Secretary, told Cheddar Monday that a Sanders nomination would be a win for Republicans.
The Dow Jones Industrial Average sank more than 1,000 points as the spread of the new coronavirus threatened wider damage to the global economy. The drop was the worst for the index in two years and wiped out its gains so far in 2020.
These are the headlines you Need 2 Know for Monday, February 24, 2020.
Bernie Sanders scored a resounding victory in Nevada’s presidential caucuses on Saturday, cementing his status as the Democrats' national front-runner amid escalating tensions over whether he’s too liberal to defeat President Donald Trump.
Huawei's U.S. Chief Security Officer Andy Purdy pushed back against accusations by the DOJ against the Chinese company while it does business with other nations such as the UK.
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 fell in midday trading as investors fretted about more signs that a viral outbreak was spreading and a report showing a sharp weakening in U.S. business activity. Investors headed for safer territory.
