The Trump administration announced recently a 30% tariff on imported solar panels.
China responded immediately, saying they’ll be opening a manufacturing plant in the United States.
The president continues to make great moves for the country, yet still gets zero credit for a booming stock market and job employment gains.
Check this out…
From Daily Wire:
Just one week after the Trump administration announced a massive 30% tariff on imported solar panels, one of China’s largest solar panel manufacturers announced plans to open a manufacturing plant in the United States.
The company, JinkoSolar, said on Monday that they have received the green light from their board of directors to “finalize planning for the construction of an advanced solar manufacturing facility in the U.S.” CNN Money reports:
The statement suggested Jinko’s decision was tied to the new tariffs, saying that the company “continues to closely monitor treatment of imports of solar cells and modules under the U.S. trade laws.”
CNN Money has more:
A Jinko spokesman declined to provide more details on the planned U.S. factory or say whether the move was prompted by Trump’s tariffs. By manufacturing products in the U.S., Jinko could avoid having to pay the new tariffs on goods it sells in the country.
News of its U.S. plans was buried at the bottom of a statement about Jinko signing up a big new U.S. customer. Jinko has an American subsidiary, but the company declined to say whether it already has any production facilities in the U.S.
The White House has more on Trump’s comments:
THE PRESIDENT: Thank you very much, and welcome to everyone. I’m thrilled to be joined by Ambassador Lighthizer as I sign a very important executive action to protect American jobs and American workers.
We appreciate, Bob, your efforts. You’ve worked so hard and so long with our team. And it’s all happening, and it’s been happening at a very rapid rate. And you’ll see what’s going to take place over the next number of months.
Based on the recommendation of the independent, bipartisan U.S. International Trade Commission, I am taking action to impose safeguard tariffs on imported residential washing machines and all solar products.
My administration is committed to defending American companies, and they’ve been very badly hurt from harmful import surges that threaten the livelihood of their workers, of jobs, actually, all over this country — many different industries.
Today, I’m also directing Ambassador Lighthizer to continue supporting industry discussions to resolve duties on these and similar products in the United States and China.
We support a resolution that is in the interest of American workers and, also, the American consumer. We’re going to benefit our consumers, and we’re going to create a lot of jobs.
Our action today helps to create jobs in America for Americans. It will provide a strong incentive for LG and Samsung to follow through on their recent promises to build major manufacturing plants for washing machines right here in the United States.
When we do this, a lot of manufacturers will be coming to the United States to build washing machines and also solar. For both solar and washing machines, these executive actions uphold the principle of fair trade and demonstrate to the world that the United States will not be taken advantage of anymore. Our companies will not be taken advantage of anymore.
And our workers are going to have lots of really great jobs with products that are going to be made in the good old USA. And that’s what this is all about.
So, I’m going to start signing. We’ll go here first. This is to facilitate positive adjustment to competition from imports of large residential washers and washing machines, et cetera. Thank you.
Keep up the great work, Mr. President!
[Note: This post was written by John S. Roberts]