Impact Of U.S. Planned Tariffs On Importation Of Solar Products

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IMPACT OF U.S PLANNED TARIFFS ON IMPORTATION OF SOLAR PRODUCTS
This article is centered on the details on the solar import tariffs proposed by the Trade Body to be imposed on products from China and protect local industries. The body seeks to regulate the capacity of solar products imported to the US by imposing a 10-35% tariffs. The body seeks to regulate the market rather than allowing the market forces to control the market. The body acts on executive powers bestowed on the president to lobby for the ascension of the bill. In the details of the article, it seems the commission is discussing the details of the tariff targeted China as it is the main supplier of solar products and photovoltaic cells to the United States. China, which has become an economic powerhouse, can produce these products at a fraction of the cost incurred by the companies in US mainland. Suniva and Solarworld fault Chinese products for their bankruptcy and most other solar producing companies fault the government for unregulated imports that kill the domestic industries.
Other companies which relied on cheap solar products from mainly China have faulted the bill to be ill-advised. They have pegged their argument on the premise that local companies are struggling to make ends meet with the availability of Chinese products. They lobbied the Trump administration which had rallied their campaign on regulating products from China to draft and impose those tariffs. Under the new tariff plans, the domestic companies hope to beat the competition fueled by cheap imports. The details of the tariff plan propose a 10-35% increase in the cost of the imports. It is an ill-advised move driven by selfish interests at the expense of the public. Many solar products companies based in the United States support the idea, but in the long run, it seems to be counterproductive.
Solar technology is an essential player in the current and future of the world. Solar is one of the best most reliable sources of energy that could revolutionize the world. Thus, imposing tariffs on such an industry with the aim of providing clean energy is a strong signal that the government does not care about nature and the environment. According to CITATION Swa17 \l 1033 (Swanson, 2017) ‘tariffs benefit a narrow slice of the industry at the expense of other companies and consumers of those products.’ Imposing tariffs that regulate ...