US hits imported solar panels
New tariffs seen as blow to a booming world industry and may cost thousands of Americans their jobs
US President Donald Trump’s decision to slap tariffs on solar panel imports is a blow to a booming global industry, and hit stocks in European and Asian solar groups on fears their business might suffer. Although the move was intended to help US manufacturers, some in the sector said it would slow US investment in solar power and cost thousands of US jobs. Trump on Monday approved a 30% tariff on solar cell and module imports, dropping to 15% within four years. Up to 2.5GW of unassembled solar cells can be imported tariff-free in each year. The news sent SMA Solar, Germany’s largest solar group, which makes 46% of its sales in the Americas, down 4.6% to a four-week low, while Norway’s REC Silicon shed 1.2%. German Finance Minister Peter Altmaier said the cost of solar products in the US was likely to increase, and that Berlin would discuss the matter with Washington. The US has the world’s fourth-largest solar capacity after China, Japan and Germany. Globally, solar capacity soared ...
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