Earlier this year Trump announced a big ol' MAGA tariff on solar panels imported from China. This was great news for the U.S. solar industry, who later announced $1 billion in investment and job hires! However, this was bad news for the U.S. solar industry, who later announced $2.5 billion in investment and jobs losses. Thank you for joining me, in today's brief lesson on tariffs.
Billions in U.S. solar projects shelved after Trump panel tariff
This is so silly and sad. Wanna try to sell U.S.-made solar panels and technology in China? Guess what you'll pay to do so? You see, why is it that it's bad for us to do the same thing that China and many other nations have been doing for decades, namely, protecting their industries with tariffs?
Now, if the free traders don't succeed in overturning this tariff, the U.S. market will adjust to the tariff rates and our solar-panel industry will be just fine.
Here's a lesson in tariffs for you: We became an industrial and economic powerhouse behind the protection of high tariffs for decades. In fact, from the 1850s until the 1960s, the Republican Party was the champion of protective tariffs. Such notable Republicans as Abrham Lincoln, Ulysses Grant, Rutherford B. Hayes, William Howard Taft, Calvin Coolidge, and Robert Taft ("Mr. Republican" in the 1940s and 50s) supported protective tariffs.