When President Donald Trump said he would be putting America first, he meant business.
Last week he announced there would be a new tariff imposed on solar panel imports. It was a move that was viewed as yet another conservative being against renewable energy and pushing fossil fuels.
BREAKING: President Trump is set to impose a 30% tariff on the importation of solar cells. In other words, he is taxing Americans for “going green!” This is despicable. How about teaching those coal miners how to work in green energy fields.
— Ed Krassenstein (@EdKrassen) January 22, 2018
However, when Trump announced this plan, he knew how it would make the markets react, and said what he thought would happen:
“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.”
The media was also busy speculating whether there would be a trade war because of this. Trump said there would not be:
“There won’t be a trade war, by the way. There will only be stock increases for the companies that are in this country. And that’s what happened today. If you look at solar and you look at the washing machine companies, that’s really what happened today. You’re going to have people getting jobs again, and we’re going to make our own product again. It’s been a long time.”
Now that Trump has imposed a 30 percent tariff on solar panels, one of China’s largest manufacturers of solar panels announced that it will be opening a production center in the U.S.
Jinko Solar U.S. announced it will be opening an advanced solar manufacturing facility in the U.S.:
…the Company’s Board of Directors has authorized JinkoSolar to finalize planning for the construction of an advanced solar manufacturing facility in the U.S. JinkoSolar continues to closely monitor treatment of imports of solar cells and modules under the U.S. trade laws.
CNN also reported that an as of yet unnamed solar company is moving to the U.S. as well. CNN uncovered that “documents filed with the local government in Jacksonville, Florida, this month state that a ‘leading international manufacturer of solar panels and modules’ is seeking to invest more than $400 million in building a manufacturing plant in the city.”
The plant was filed under the name “Project Volt,” and is projected to create approximately 800 jobs between 2018 and 2019.
Jinko chose not to comment on whether it was behind this project.
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