President Trump signed an executive order imposing new tariffs on solar panels and washing machines yesterday in a move, the president said, will lead directly to American jobs. “You’re going to have people getting jobs again and we’re going to be making our own product again,” the president said at the signing event.
The Trump administration is imposing a new 50% tariff on imported washing machines, and a new 30% tariff on solar panels. Both tariffs decrease over time and eventually expire; the washing machine tax after three years, the solar panel tax after four years.
The president characterized the move as being good for American manufacturing. “Our action today helps to create jobs in America for Americans,” the president said. “A lot of manufacturers will be coming to the United States to build both washing machines and also solar.”
The Solar Energy Industries Association criticized the move however, saying it could threaten 23,000 jobs. “While tariffs in this case will not create adequate cell or module manufacturing to meet U.S. demand…they will ultimately cost tens of thousands of hard-working, blue-collar Americans their jobs,” said Abigail Ross Hopper, the group’s president. Companies that install solar panels and import washers for sale predict they’ll have to cut employment because of the price increases.
President Trump campaigned on the promise righting many years of unfair trade policies that benefited foreign countries but harmed American workers, he said. Yesterday’s action was the president’s first unilateral trade action he has taken since taking office.