Signs Executive Order imposing tariffs on imported washing machines and solar products
- Solar panel, washing machine tariffs show US will not be taken advantage of any more
- NAFTA negotiations going pretty well
- Going to Davos and will be talking about investing in the US
The tariffs imposed could lead to higher costs for both products.
The impact of a tariff can protect domestic producers from dumping goods in the US, but it can also lead to sharply higher costs for the consumer. The good news is that some overseas washing machine producers have already announced they will manufacture in the US (LG and Samsung). Will they compete fairly and bring increased competition and lower prices as a result? We will see. For the solar panel market the verdict is still out. If the price of solar panels rise too much, it could threaten the drive for alternative sources of power.
First Solar, a US manufacturer, traded as high at $74.32 (vs a close of $68.96) but is now trading down at $68.47, down $0.49 on the day.
