HahaSmart’s Solar News Episode 15: There’s a New Tariff in Town!
The trade-war between the U.S. and China has been going on for quite sometime and it escalated in 2018 when Trump placed a tariff on imported solar goods. The tariff that was placed on imported solar goods is expected to raise solar installs by 10 percent. Usually when there’s a tariff placed on certain goods, the country that is getting the good imported is the one that is paying the tariff, however in this case, the country who is exporting the goods is the one who paying the price. Next time I go to the store to import some clothes from the store to my closet I am going to demand the store pays me the tax.
The trade war doesn’t look like it will be ending anytime soon. In typical Trump fashion, he took to Twitter and tweeted a series of tweet’s may 13th about the trade war that said; “There is no reason for the U.S. consumer to pay the Tariffs, which take effect on China today. This has been proven recently when only 4 points were paid by the U.S., 21 points by China subsidizes product to such a large degree. Also the Tariff’s can be completely avoided if you buy from a Non-Tariffed Country, or you can buy the product in the USA (best idea). That’s zero tariffs. Many tariffed companies will be leaving China for Vietnam and other such countries in Asia. That’s why China wants to make a deal so badly! There will be nobody left in China to do business with. Very bad for China. Very good for the USA! But China has taken so advantage of the U.S. for so many years. That they are way ahead (our president did not do the job). Therefore, China should not retaliate – will only get worse!”
XI Jinping said, “That his country will not submit to bullying.” And that, “Caving in would only Embolden the Bully.”
I’m sure Trump will be sure to tweet us any updates on the progress that is being made with the trade wars and the tariff’s that have ensued because of it.
In order for our viewers to fully understand the tariff’s and what’s going on with them we are going to dig into the history of these Tariffs.
These Tariff’s were put in place because of a trade war that has been going on between the U.S. and China for the past few years. One of the major factors that has affected this trade war was the Anti-Dumping Tariff that was placed on China. An anti-dumping duty is a protectionist tariff that a domestic government imposes on foreign imports that it believes are priced below fair market value. The World Trade Organization doesn’t regulate the actions of companies engaged in dumping, but instead focuses on how governments can or cannot react to dumping. The United States imposed a 500 percent import duty on certain steel imported from China. In 2018, China filed a complaint with the WTO challenging the tariffs imposed by President Donald Trump. The White House’s trade agenda for 2019 said it would continue to use the WTO to challenge what it called unfair trading practices with China and other trading partners.
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