U.S. Solar Panel Industry Receives Regulatory Boost
September 25, 2017
U.S. trade agency rules in favor of U.S. solar panel manufacturers, allowing President Trump to set up sanctions on foreign solar panels; Key Republican Senators oppose ObamaCare repeal measure; Economists expect slower U.S. economy growth than Trump’s 3 percent GDP growth target.
- U.S. trade agency rules in favor of U.S. solar panel manufacturers, allowing President Trump to set up sanctions on foreign solar panels. The U.S. International Trade Commission ruled on Friday on the side of U.S. solar panel manufacturers seeking protection from imports, an action that may disrupt demand for fast-growing renewable energy installations. The federal trade agency’s preliminary finding that imports harmed U.S. manufacturers means that President Trump will be able to decide whether to place sanctions on foreign solar panels and modules or take other actions. The decision by the four voting members was unanimous, according to Reuters. The commission now has to make recommendations to the Trump administration by November. [CNBC]
- Key Republican Senators oppose ObamaCare repeal measure. Senators John McCain (R-Ariz.) and Rand Paul (R-Ky.) voiced opposition to the ObamaCare repeal bill and Sen. Susan Collins (R-Maine) leaned strongly against it. Republicans can only lose two votes to get the bill through the Senate in the face of unanimous Democratic opposition and face a Sept. 30 deadline, after which they will lose the ability to use special budgetary rules on the ObamaCare repeal that prevent a Democratic filibuster. GOP Sens. Lindsey Graham (S.C.) and Bill Cassidy (La.) made last minute changes to the legislation over the weekend, including directing more funding toward states of holdout senators, aiming to keep the bill alive. Sen. Ted Cruz (R-Texas) and Sen. Mike Lee (R-Utah) said that as the bill now stood, they would be no votes. Regardless of what happens this week on health care, tax reform is the next priority on the GOP agenda. [The Hill]
Economic Indicators & News
- Economists expect slower U.S. economy growth than Trump’s 3 percent GDP growth target. Most U.S. business economists polled in a survey from the National Association for Business Economists expect that the growth of U.S. GDP to level off next year at an annual pace of about 2.3 percent, less then the latest reading of 3 percent growth in the second quarter of this year. President Trump has announced his 3 percent GDP growth target as a cornerstone of the administration’s economic plan. Economists say that the 3 percent growth target is unrealistic, saying that after slowing through the rest of this year, GDP growth will level off next year, with inflation gradually rising to 2 percent and the unemployment rate falling to 4.1 percent by the end of 2018. In addition to tax reform, economists expect Congress and the White House to enact an infrastructure spending package. [CNBC]