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).
Michael Sonnenshein, managing director of Grayscale, told Cheddar that recent developments in the U.S.-China trade war are proving to be evidence that Bitcoin has emerged as a safe-haven asset.
The company has announced that it is donating 5,000 units of the generic version of Plan B for women in need as part of a collaboration with the nonprofit Power to Decide.
2020 Democratic presidential hopefuls are bringing the gun debate to 165th annual Iowa State Fair.
These are the headlines you Need 2 Know for Friday, Aug. 9, 2019.
The Golden State's so-called "resistance" strategy, Alex Padilla said, is rooted in a three-pronged approach: legislation, legal challenges, and civil society organization.
President Trump traveled to El Paso, Texas and Dayton, Ohio on Wednesday, two cities grieving after separate mass shootings killed at least 31 people over the weekend. The president, however, was greeted with large protests in both cities as residents and lawmakers expressed their anger over Trump’s divisive leadership and refusal to support stricter gun control measures.
The rule would be the latest move by the White House against Huawei. The Chinese tech giant was deemed to be a threat to U.S. national security in May and has since been a central component of the ongoing trade dispute between the U.S. and China.
China has historically been one of U.S. farmers' largest buyers, making the sector a prime target for Beijing's retaliatory tariffs.
On this episode of 'Your Cheddar': how one entrepreneur leverages technology to build her brand and monetize her expertise, and the CEO and co-founder of Pillar joins the show to discuss how his platform helps others manage their student loan debt. Cheddar also hits the streets to ask New Yorkers how they would decide between easy money and spending quality time with their favorite celebrities.
President Trump is scheduled on Wednesday to visit El Paso, Texas and Dayton, Ohio, two cities still grieving after separate mass shootings killed at least 31 people over the weekend. The president’s visits, however, have created an atmosphere of angst and unease.
