President Donald Trump will impose duties of as much as 30% on solar panels made abroad

Globalization is the word. All the world leaders in the Swiss ski resort of Davos are talking about it. And most of the worlds political and corporate elite defend globalization. But President Trump did something on Monday that some other leaders dont like.

He slapped 30% tariff on imported solar panels and washing machines, and that is his first step towards his campaign promise to get tough on China. Critics say that this step can slow down a fast-growing industry and destroy thousands of domestic manufacturing jobs.

President Emmanuel Macron will have speech in the Swiss ski resort of Davos on Wednesday. One of the most important things he will talk about is Globalization. On Friday, Mr Trump will also have a speech in Davos, and he will talk about his «America first» strategy.

Why in the world is Mr Trump doing this if it is bad for the solar industry and its jobs? Relax. This is not a new case and we have heard about this in many years. Former President Barrack Obama did the same in 2012.

In May, 2012, the Obama administration called for hefty tariffs on Chinese-made solar panels and cells. They were arguing China has been illegally «dumping» under-priced products on the U.S market.

In December 2014, The Commerce Department began closing a chapter in a protracted trade conflict with China over solar equipments, approving a collection of steep tariffs on importers from Taiwan and China.

They found that the companies were selling products below the cost of manufacture. On top of that they found that the Chinese companies were benefiting from unfair subsidies from their government.

The department announced anti-dumping duties of up to about 80% on imports made in China, and rates up to about 30% on imports of solar cells made in Taiwan. Some experts in the solar industry say this tariff will return to fair trade.

This is what all this is about: fair trade. This trade conflict has its roots in a flood of inexpensive Chinese solar products. This Chinese strategy pushed many American manufacturers out of business because of their reduced prices on solar panels.

Leaders are split over the case, and this long-simmering conflict has now ended with a 30% tax on Chinese solar panels. Mr Trump has promised to boost manufacturing jobs by cracking down on Chinese imports. It will create jobs and build or expand factories on U.S soil.

President Trump is doing this because he will defend American workers. He will defend American farmers and their ranchers. He will also defend all other businesses. He will «Make Amerian Great Again.»

Some people do not agree with Mr Trump. They said yesterday that Trump`s decision will kill American manufacturing jobs, not create them.

The Solar Energy Association has projected tens of thousands of job losses in the $28 billion industry.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Shiny bull. The author has made every effort to ensure accuracy of information provided; however, neither Shiny bull nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in precious metal products, commodities, securities or other financial instruments. Shiny bull and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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