For a long time now I have called for government to crack down on illegal trade practices overseas, in which US 1% Vulture Capitalists, have colluded with foreign governments to ship US workers’ jobs overseas to increase their profit margins. Wal-Fart is notorious for this. Republicans may talk tough on trade, but they never do anything, because they represent the 1%, not you and me.
Which is better for an economy: millions of future jobs and trillions of future dollars, or a few people making a quick buck today by selling out their country? For decades America’s 1 percent-backed conservatives have chosen the latter course, and we can see the results all around us. Now the Obama administration has imposed stiff tariffs on Chinese solar panels because China was "dumping" — selling below cost — to drive American manufacturers out of business. Will conservatives support their country and our companies or will they continue to side with our country’s competitors?
U.S. Imposes Stiff Tariffs
The Commerce Department yesterday concluded that Chinese solar panel companies are "dumping" product — selling below the cost of production — into the U.S. market, and imposed stiff tariffs. According to the New York Times‘ "U.S. Slaps High Tariffs on Chinese Solar Panels":
The United States on Thursday announced the imposition of antidumping tariffs of more than 31 percent on solar panels from China.
… The antidumping decision is among the biggest in American history, covering one of the largest and fastest-growing categories of imports from China, the world’s largest exporter.
Industry of the Future
Again and again technology revolutions come along and disrupt economies. Countries that jump on new technologies are the countries that win the industries and jobs and revenue. This is how the United States became the world power that it is was. Railroads, steel, automobiles, airplanes, electronics, semiconductors, computers, the Internet, pharmaceuticals, biotech and software are a few examples. And in every case our government helped these new industries get off the ground. When these industries took root the payoff was enormous.
Green energy is one such technology of the future. Producing solar panels, wind turbines, etc. will bring millions and millions of jobs and trillions of dollars, and several countries are competing to win a share of this new industry… [emphasis added]
Inserted from <Huffington Post>
Ed Schultz covered the story with Sherrod Brown (D-OH)
Visit msnbc.com for breaking news, world news, and news about the economy
While Obama is fighting for a fair breaks for Americans, Republicans are holding up bills that would help stop losing US jobs to unfair trade practices. Of course, from his Bain Capital days, Switch Hit Mitt is no stranger to exporting US workers’ jobs to China.
10 Responses to “Obama Puts Tariff on Chinese Solar Panels”
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“The United States on Thursday announced the imposition of antidumping tariffs of more than 31 percent on solar panels from China. ”
President Obama has courage and I await the objections now from the 1%…. 💡
You won’t wait long.
Nice to see the big O with balls– now lets watch this should be interesting when the 1 % ers start their bellyaching– we know they will
Of course they will!
I can’t believe anyone is still dumb enough to vote republican. I am glad we’re standing up to China. Great article, Tom.
Thanks Angelica. The problem is the intersection of apathy and ignorance.
Good news for a change. I wish there would be more tariffs on more imports, and that more people would stop shopping at Wal-Mart. When Sam Walton started the store he touted “American made products”. Now there is hardly anything in their stores that comes form the U.S., including their food.
Edie, I agree. Wal-Fart has done more ti cause jobs to be outsourced than any other retailer.
Does China manufacturing a green energy product — solar panels at 46% of world production — seem strange when they are still the biggest users of coal fired energy?
It will be very interesting to see the reaction of the 1%, the corporations, and of course their political whores. Romney only mentioned actioning two unfair practices — currency manipulations and intellectual property thefts. He made no reference to dumping or applying tariffs. Mr Obama’s move was gutsy. Now if the Republican/Teabagger dominated House could get their act together and pass some legislation to get more Americans back to work. I imagine it will be a cold day in hell before that happens!
Not at all. It’s no secret that the majority of their solar production is being exported in an attempt to corner the market.
It really depends on who the 1%ers are. Companies like Wal-Fart that profit from artificially low prices on Chinese goods, and corporate raiders like Bain that make money exporting jobs are having fits.