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After Trump tariffs, Chinese solar company says it will build U.S. factory
CNN Money ^ | 01/30/2018 | Daniel Shane

Posted on 01/30/2018 3:41:02 PM PST by gubamyster

President Trump wants Chinese solar panels firms to make more of their products in the U.S. -- and they appear to be getting the message. A week after the Trump administration unveiled tariffs of up to 30% on imports of solar panels, one of China's biggest manufacturers announced that it plans to open a new plant in the U.S.

JinkoSolar said in a statement Monday that its board of directors had given the go-ahead to "finalize planning for the construction of an advanced solar manufacturing facility in the U.S."

The statement suggested Jinko's decision was tied to the new tariffs, saying that the company "continues to closely monitor treatment of imports of solar cells and modules under the U.S. trade laws."

A Jinko spokesman declined to provide more details on the planned U.S. factory or say whether the move was prompted by Trump's tariffs. By manufacturing products in the U.S., Jinko could avoid having to pay the new tariffs on goods it sells in the country.

News of its U.S. plans was buried at the bottom of a statement about Jinko signing up a big new U.S. customer. Jinko has an American subsidiary, but the company declined to say whether it already has any production facilities in the U.S.

The tariffs Trump announced a week ago are intended to protect U.S. manufacturers. They resulted from a trade complaint by the U.S. subsidiaries of two foreign solar panel makers. At the same time, Trump also announced higher tariffs on imported washing machines, a blow to big South Korean manufacturers such as LG Electronics and Samsung (SSNLF).

(Excerpt) Read more at money.cnn.com ...


TOPICS: Business/Economy; News/Current Events
KEYWORDS: solar; solarpanels
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1 posted on 01/30/2018 3:41:02 PM PST by gubamyster
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To: gubamyster

All that’s left now is to force the Chinese company to turn over its intellectual property!


2 posted on 01/30/2018 3:43:45 PM PST by Bacchus
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To: gubamyster

#WINNING


3 posted on 01/30/2018 3:44:42 PM PST by tennmountainman ("Prophet Mountainman" Predicter Of All Things RINO...for a small fee.)
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To: gubamyster

And that CNN is called..WINNING!


4 posted on 01/30/2018 3:44:56 PM PST by Sarah Barracuda
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To: Bacchus

Perfect remark just perfect.


5 posted on 01/30/2018 3:45:56 PM PST by magua
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To: gubamyster

this must’ve hurt cnn to write and post this story...


6 posted on 01/30/2018 3:46:39 PM PST by God luvs America (63.5 million pay no income tax and vote for DemoKrats...)
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To: gubamyster

If the company has any ties to the Chinese government or the Communist Party of China the company should not be allowed to have any presence in the U.S. domestic economic space.


7 posted on 01/30/2018 3:49:38 PM PST by Wuli
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To: Wuli

Why?


8 posted on 01/30/2018 3:51:10 PM PST by ilovesarah2012
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To: gubamyster

"Those jobs are gone and they're never coming back."

9 posted on 01/30/2018 3:57:29 PM PST by Rebelbase
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To: Wuli

It’s okay. If they go south, we just nationalize it and continue on the operations.

Winning...


10 posted on 01/30/2018 3:58:08 PM PST by DoughtyOne (01/26/18 DJIA 30 stocks $26,616.71 48.794% > open 11/07/16 215.71 from 50% increase 1.2183 yrs..)
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To: gubamyster

It is a win but they’re just skirting the rules.


11 posted on 01/30/2018 4:00:12 PM PST by Snowybear
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To: Snowybear

American workers spending their hard earned money in America, paying US taxes. That’s winning!!


12 posted on 01/30/2018 4:07:25 PM PST by Sacajaweau
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To: Sacajaweau

Yes, that’s very true I just wish it was an American company whose profits would stay in America. Can’t have everything, I know. :)


13 posted on 01/30/2018 4:09:29 PM PST by Snowybear
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To: ilovesarah2012

It is mere pretense that China is a “free market” economy; it isn’t. The myriad ways in which supposed “private” companies are actually in majority ownership, or control of either the some unit of the Chinese government, the Chinese communist party, or one or more top officials of either the government or the party are more than westerners can imagine, and cloaked in deceit.

China is a state-capitalist national mercantilist economy and it’s “success” is a success of that model. It is not in U.S. interest that that model be supported within the domestic economic sphere.

It is bad enough already that western companies are now being told they must help the government establish party cadres within the Chinese working for them, and the next phase will be accepting “guidance” from those cadres.

While we never should have opened World Trade Organization membership to China, we nevertheless should not be supporting the operation of China’s state-capitalist economic model within the U.S. domestic economic sphere.


14 posted on 01/30/2018 4:33:42 PM PST by Wuli
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To: gubamyster

Last week, my sister cited the proposed Chinese solar panel tax in a long anti-Trump rant. Said it would cost thousands of jobs and suck billions out of the economy.


15 posted on 01/30/2018 4:48:04 PM PST by Steve_Seattle
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To: gubamyster

Now let’s see if they can do it while obeying all our regulations...


16 posted on 01/30/2018 5:03:12 PM PST by reed13k
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To: gubamyster

I’ve been looking for a new washing machine but it has to be as user-friendly as my old washer. It has to be a toploader and easy to reach into and I don’t want to stand on a step-stool to do it. All the toploaders I’ve seen are a bottomless pit. And they take twice as long to cycle through as the old one.


17 posted on 01/30/2018 5:20:30 PM PST by Ciexyz (I'm conservative & traditionalist, a nationalist and patriot.)
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To: Snowybear; Sacajaweau; Steve_Seattle
There are no American companies making solar panels, they have all gone out of business because the GOP has tried for years to shut down solar because coal and nat gas give huge sums to republicans.

The only 2 remaining solar panel factories are both foreign owned. And now a china company will move in.

Manufacturing is highly automated and only about 14% of solar jobs are in manufacturing while installation is labor intensive so 86% of the jobs are in installing.

Because the price of panels will be going up, many solar jobs will no longer pencil out and many will cancel, causing an estimate net job loss of 26,000 the first year.

None of this will help these companies compete on the world market. They won't be able to compete in Canada, Mexico, or North Africa.

18 posted on 01/30/2018 5:30:34 PM PST by Ben Ficklin
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To: Ciexyz
It has to be a toploader and easy to reach into

Why not a front loader?

19 posted on 01/30/2018 5:35:23 PM PST by BipolarBob (At one time I held the world record as the worlds youngest person on the planet.)
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To: ilovesarah2012

Why?

Build in the US to dump them in the US


20 posted on 01/30/2018 5:38:09 PM PST by butlerweave
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