According to foreign media reports, the U.S. trade representative Robert Hitler said on the 22nd that Trump has approved the proposal of imposing a protective tariff on imported large domestic washing machines and imported solar cells and panels, which is causing concern in many countries. This suggests that Trump is taking the long-promised "U.S.-first" trade policy a step further and some marketers have criticized the move as triggering a trade war risk.
In a statement on the same day, Hitlerze said that the decision was made following the investigation of the US International Trade Commission. These two imported products 'are an important cause of serious damage to domestic manufacturers'. 'President's actions showed again The Trump administration will always protect American workers, farmers, farmers and businesses in foreign trade. '
Protective tariffs imposed on these two imported products will start at a relatively high tax rate in the first year and then gradually decrease in the following years. In the first year, import washing machines were subject to a tariff of 20% within 1.2 million units, exceeding 1.2 million Taiwan taxes 50%. For imported solar cells and panels, the United States will tax 30% of its products over 2.5GW for the first year and 25%, 20% and 15% respectively in the following three years. Will also be supplemented by import quotas policy.
The U.S. government's move described above not only responds to the industry's request for relief from the recent massive influx of low-cost products into the United States, but also marks the beginning of a series of new government trade enforcement actions that are said to target Asian manufacturing enterprises, Including China's solar panel makers and South Korea's washing machine makers, but the U.S. government did not mention any exemptions from the country when the measures were announced, so the new policy will also affect trading partners such as Mexico, Canada and Europe.
In terms of tariffs on washing machines, South Korea and Mexico will suffer the most, with both countries exporting large quantities of washing machines to the United States, mostly from products owned by South Korean giants Samsung and LG Corp. The tariff increase will push the U.S. market The price of imported washing machines has risen sharply, and the price advantage of competing with washing machine manufacturers in the United States will not exist anymore, which is good news for the washing machine manufacturers in the United States.
The Mexican Ministry of Economy criticized the United States' decision to impose tariffs on imported washing machines and solar panels. It stated that it will take all available legal means to ensure that the United States fulfills its international obligations. The Ministry of Economy issued a statement saying that 'the United States has not excluded Mexico from its decision today. , Mexico regrets this. In the statement, the Ministry pointed out that the United States imported from Mexico about $278 million worth of washing machines and about $1.127 billion worth of solar panels in 2016.
It is regrettable that the South Korean government protested the U.S. move on the 23rd and will file a complaint with the World Trade Organization. South Korean Trade Minister Kim Soo Jong stated that the U.S. decision was to place political considerations above global norms.
Bloomberg commented that Trump's tax on solar-energy imports will hit the renewable energy industry hard and could adversely affect the $ 28 billion industry, with 80% of the industry relying on zero foreign production Components. In recent months, the mere threat of tariffs has shaken the status of solar developers, some hoarding solar panels and others delaying project implementation because of projected costs going up. The solar industry association estimates that tens of thousands People are unemployed.
The introduction of the new policy is also making the world more concerned about whether to impose new tariffs on steel imports. "What we were worried about last year may happen this year," said Spencer, Deutsche Bank's global head of economy in Hong Kong. Outside the political arena, trade-related concerns may be the biggest external risk we face as the entire cycle in Asia is still export-led. "
The government's move has drawn criticism from free-market economists who warn consumers may face new costs as a result of a trade war risk.