Production operator John White checks a panel at the SolarWorld solar panel factory in Hillsboro, Oregon, U.S., January 15, 2018. REUTERS/Natalie Behring
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U.S. President Donald Trump slapped steep tariffs on imported washing machines and solar panels Monday, giving a boost to Whirlpool Corp and dealing a setback to the renewable energy industry in the first of several potential trade restrictions.Trump will impose a 20-percent tariff on the first 1.2 million imported large residential washers in the first year, and a 50-percent tariff on machines above that number.A 30-percent tariff will be imposed on imported solar cells and modules in the first year, with the tariffs declining to 15 percent by the fourth year. The tariff allows 2.5 gig watts of unassembled solar cells to be imported tariff-free in each year.Trump ignored a recommendation from the ITC to exclude South Korean-produced washers from LG from the tariffs, as prior anti-dumping duties on these machines have been dropped.The decisions were the first of several potential tariff actions that Trump may take in the coming weeks and months.
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