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 Growing Renewable Energy and Efficiency Now (or GREEN) Act would add five years to the so-called investment tax credit (ITC) that provides an upfront subsidy to solar and offshore wind projects.
Andrew Yang wants the U.S. to create useful rules for cryptocurrency businesses and projects now, rather than playing catch-up after another jurisdiction has already done it. He recently layed out his vision for a national framework on cryptocurrencies.
The social media company is worried its Chinese roots could get in the way of growth opportunities and is now considering ideas like moving operations to Singapore and rebranding the app in the U.S., according to a report.
The CEO of ad cybersecurity firm CHEQ, Guy Tytunovich, told Cheddar that "fake news" is a "major, major problem" costing people control of their lives globally.
These are the headlines you Need 2 Know.
While grassroots support is nothing new, the online nature of Yang supporters shows how outsider campaigns with less infrastructure leverage technology and online spaces to get noticed.
The surprise rejection of Amazon Web Service's bid on October 25 raised eyebrows because the company had appeared to be the frontrunner thanks to its extensive experience with cloud computing.
Commerce Secretary Wilbur Ross and White House economic advisor Larry Kudlow made remarks that predict phase one of a trade deal with China is nearing completion, though the president has yet to signal his approval.
These are the headlines you Need 2 Know for Friday, November 15, 2019.
Rep. Eric Swalwell (D-Calif.) told Cheddar that the Republican lead counsel, Stephen Castor, was tasked with an impossible job.
