Maxwell Professor Mary Lovely Explains Damage of Tariffs on Solar Industry
While tax breaks will help Americans out, new Trump-imposed tariffs will soon do the opposite, especially in regards to the solar power industry. New taxes will raise costs for American solar companies, among other changes. For the Chicago Tribune, Maxwell economics professor Mary Lovely detailed what this tariff may result in.
“You’re putting 85 percent of the jobs in the industry at risk primarily to benefit foreign owners of capital,” she said, as most US solar power businesses are not based in manufacturing like abroad companies are. She also added, because of these tariffs, that, “there will be less innovation in the long term.”