Germany criticizes Trump’s plan for new tariffs

While some reports focused on Trump’s singling out of Chinese made solar panels, the decision on washing machines also targeted South Korean imports.

The announcement marks Donald Trump’s first major trade action of 2018 and is part of his “America First” policy.

Getting tough on China for its “theft” of United States manufacturing jobs was a centrepiece of Trump’s campaign, but his stance appeared to soften upon taking on office.

The Colorado Solar Energy Industries Association estimates 6,000 people in our state work in the solar industry, and that 2,000 of those jobs could be lost.

SolarWorld, a German manufacturer with an American arm, gained 5% after the news.

The US measures were “unfair”, Kim said at a meeting of industry representatives. “SolarWorld is cautiously optimistic that this decision will begin that process”.

“The danger of this is cross retaliation”, added Steven Koh, who spent nine years at the U.S. Trade Representative’s office and is now at the law firm, Akin Gump.

President Trump has imposed a 30% import tariff on solar panels coming from overseas manufacturers to the US.

The U.S.is imposing tariffs up to 30 percent on most imported solar cells and panels.

Solar energy has been one of the fastest growing areas of the workforce in recent years, the nonprofit Solar Foundation says, and now employees more than 260,000 workers. But other companies, like those that install solar panels or import washers to sell, predict they’ll have to cut jobs because of the price increases.

Some analysts are predicting the four-year tariff will result in a 10 to 15 percent decline in USA solar installations.

Bankrupt Suniva, majority-owned by Hong Kong-based Shunfeng International Clean Energy, and SolarWorld, the USA arm of Germany’s SolarWorld AG, had said they can not compete with the influx of cheap imports, which has caused panel prices to fall more than 30 percent since 2016.

Solar installers opposed the decision, saying it would raise prices and lower demand.

A tariff of 30 percent will be levied on imported solar modules and cells in the first year. “Many members of the [World Trade Organisation] have expressed their concerns over that”.

Frank Yu, a consultant at Wood Mackenzie on power and renewables in the Asia-Pacific, said the tariff will be a short-term jolt to Asian solar panel manufacturers.