Ready for the world’s first Green trade war? Well that may soon be coming, as China is now considering new tariffs on U.S. chemicals used to make solar panels. According to the Competitive Enterprise Institute, the U.S. imposed a 31% tariff on Chinese-made solar panels in late 2012 supposedly in retaliation for unfair Chinese government subsidies of it solar industry. But while the Chinese spent $30 billion in 2010 in solar subsidies, the Obama Administration had renewable subsidies double that amount the same year, and currently offers big solar tax breaks. The result could be solar panel prices rising everywhere, which hardly seems very consumer or earth-friendly.
March 11, 2013 by David Rothbard,
David Rothbard is co-founder and President of CFACT.