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).
As Cheddar reflects on 2018, we are profiling the most innovative, flamboyant, and often-controversial entrepreneurs and corporate leaders who delivered the year's most memorable moments in business. Cheddar's Biggest Loser Award Goes to Mark Zuckerberg and Sheryl Sandberg.
These are the headlines you Need 2 Know for Friday, Dec. 14, 2018.
The arrest of Huawei CFO Meng Wanzhou was an "enforcement action, not a trade-related action," according to Commerce Secretary Wilbur Ross. Ross told Cheddar's Megan Pratz that the arrest of Meng in Vancouver was a response to her flouting of sanctions ー and not a retaliatory strike or warning shot against a major Chinese telecom corporation.
These are the headlines you Need 2 Know for Thursday, Dec. 13, 2018.
A new platform is inviting politically progressive consumers to vote with their wallets. The Progressive Shopper platform is designed to educate left-leaning shoppers about political donations made by their favorite brands.
All eyes were focused on Google CEO Sundar Pichai when he testified in front of Congress on Tuesday. But stealing the spotlight was a face in the background ー the Monopoly Man, resurfacing to troll corporate America once again. According to Ian Madrigal, the D.C. attorney behind the viral persona, the mustachioed figure is the ultimate symbol of corporate malfeasance.
Amazon's HQ2 decision was among the greatest "PR scams" in history, according to the state senator that represents the New York district that will be home to one-half of the new split headquarters. Michael Gianaris, the Democratic state senator from New York's 12th district, which includes Long Island City, told Cheddar that the state badly misplayed its hand in giving Amazon billions in incentives to build an outpost in the booming Queens waterfront neighborhood.
Sensing the shifting political winds, New York Gov. Andrew Cuomo is reportedly planning to introduce a "green new deal" that would legalize recreational pot as part of the inaugural speech he will deliver from Ellis Island on New Year's Day.
These are the headlines you Need 2 Know for Wednesday, Dec. 12, 2018.
Gene Munster isn't worried about Apple. The managing partner of Loup Ventures and venture capitalist told Cheddar Tuesday that the tit-for-tat with Qualcomm over iPhone sales in China is insignificant for Apple's long-term value.
