danielpalos
Diamond Member
- Banned
- #241
Why not a simple, tariff for firms that have their cash reserves, expatriated?Just one week after the Trump administration announced a massive 30% tariff on imported solar panels, one of China's largest solar panel manufacturers announced plans to open a manufacturing plant in the United States.
The company, JinkoSolar, said on Monday that they have received the green light from their board of directors to "finalize planning for the construction of an advanced solar manufacturing facility in the U.S." CNN Money reports:
The statement suggested Jinko's decision was tied to the new tariffs, saying that the company "continues to closely monitor treatment of imports of solar cells and modules under the U.S. trade laws."
It appears as though JinkoSolar may not be the only company moving manufacturing operations to the United States to avoid paying the tariff. CNN adds:
There are other indications that foreign solar companies are bringing manufacturing to the U.S.
Documents filed with the local government in Jacksonville, Florida, this month state that a "leading international manufacturer of solar panels and modules" is seeking to invest more than $400 million in building a manufacturing plant in the city.
The facility, code-named "Project Volt," will create 800 jobs between now and the end of next year, according to the documents.
STABLE GENIUS: Trump Jacks Up Tariffs On Solar Panels. Here's How China Responded.