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US hikes import tariff on washing machines & solar panels
By TII News Service
Jan 23, 2018 , Washington

    

IN a move to protect domestic manufacturers, the US President, Mr Donald Trump, has slapped steep tariffs on imported washing machines and solar panels, giving a boost to Whirlpool Corp and causing a setback to the renewable energy industry in the first of several potential trade restrictions. The moves were announced on January 22, 2018 in response to US industry pleas for relief from a recent flood of cheap imports.

In case of washing machines, the Trump Administration will impose a 20% tariff on the first 1.2 million imported large residential washers in the first year, and a 50% tariff on machines above that number. A 30% tariff will be imposed on imported solar cells and modules in the first year, with the tariffs declining to 15% by the fourth year.

 

 
 
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