US President Joe Biden issued a decree extending for four years the tariffs on solar panels that were initially imposed by his predecessor Donald Trump to protect American manufacturers who face stiff competition from China in particular.
These additional tariffs, imposed in January 2018, marked the beginning of a series of protectionist measures that led to the trade war between the United States and China and their major trading partners.
“I think an extension of this precautionary measure will lead to more economic and social benefits,” Biden said.
US tariffs on solar panels initially reached 30% in the first year before dropping by 5 percentage points each year for four years. The tariffs were due to expire this week. But many American manufacturers have requested an extension, arguing that it is still necessary to support the national industry that was able to regain its strength in the face of foreign competition. The Biden administration also intends to boost domestic production while accelerating the transition to clean energy.
In return, the Biden administration decided to double the amount of solar panels that can enter the country without tariffs, and announced that it would start talks with Canada and Mexico to consider increasing imports from these two partners.
job machine
Despite the resurgence of the COVID-19 outbreak accelerated by the mutant Omicron, jobs in the United States increased with 467,000 jobs created in January, the government announced, in a result that exceeded expectations.
“The American jobs machine is moving forward more than ever, in support of a strong recovery and opportunity for the hard-working men and women of this country,” said US President Joe Biden of the White House.
The report of the Ministry of Labor, which also showed a slight increase in the unemployment rate to four percent, was a pleasant surprise for the largest economic power in the world, following many experts had expected weak or negative job growth even in the first month of 2022.
And last month, restaurants were among the most prominent institutions in the entertainment and hospitality sector that witnessed employment, noting that the sector created 151,000 jobs. (Archyde.com)
