Trump hits solar panels, washing machines with tariffs

Trump hits solar panels, washing machines with tariffs
Posted at 4:36 PM, Jan 22, 2018
and last updated 2018-01-22 18:36:33-05

WASHINGTON (AP) — President Donald Trump is approving tariffs on imported solar-energy components and large washing machines in a bid to help U.S. manufacturers.

The administration cast Monday's decisions as part of Trump's pledge to put American companies and jobs first.

The administration is imposing an immediate tariff of 30 percent on most imported solar modules, with the rate declining before phasing out after four years.

For large residential washing machines, tariffs will start at up to 50 percent and phase out after three years.

The U.S. solar industry is split over the issue. Two small subsidiaries of foreign companies that made solar cells in the U.S. favor tariffs, but a larger number of companies that install solar-power systems say their costs will rise and jobs will be lost.