President Trump says he plans to institute tariffs on imports of steel and aluminum next week, arguing it will level the playing field for American companies and help them expand after plant closings in recent years. The president yesterday said he decided on tariffs of 25 percent for steel and 10 percent for aluminum. The announcement sent the markets tumbling.
When President Donald Trump fulfilled a major campaign promise in January by imposing tariffs on imported solar panels, no one was happier than SolarWorld Americas CEO Juergen Stein.
“China was cheating, China was dumping, China had subsidies from the government,” he says. “Over 30 (American) manufacturers in the last five years have had to step out of the market because of dumping subsidized products in the United States.”
The two remaining American manufacturers, SolarWorld Americas and Suniva, both filed for bankruptcy and testified last fall before the bipartisan International Trade Commission, which unanimously recommended tariffs be imposed.