U.S. President Donald Trump said on Wednesday he would announce a decision soon on whether to slap tariffs on imported solar panels, and quipped that when countries dump subsidized panels in the United States, “Everybody goes out of business.”
The solar industry is anxiously awaiting the decision, which will have wide-reaching implications for the sector. Domestic panel producers opposed to cheap imports would benefit from a tariff. But installers that have relied on the lower-cost hardware for their recent breakneck growth would suffer.
In an interview with Reuters, Trump declined to say how he would land on the case - which was triggered last year by a domestic manufacturer’s trade grievance - but complained about the effect of imports on U.S. panel makers.
“You know, they dump ‘em - government-subsidized, lots of things happening - they dump the panels, then everybody goes out of business,” he said.
Asked when the decision would be announced, he said: “Pretty soon. Honestly, pretty soon.”
According to a process governed by the International Trade Commission, Trump has until Jan. 26 to make his decision.