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January 23, 2018

Solar Panels, Tariffs, and Adam Smith

  WBAP Morning News
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The Trump administration is applying 30 percent tariffs on Chinese-made solar panels. "We think this a very unfortunate move," said Tom Giovanetti to the WBAP Morning News. "Trump is being just as consistent in his campaign rhetoric on tariffs and trade as he was on cutting taxes. This president has been itching to slap tariffs on somebody, and this is his first opportunity to do so."

"These tariffs are not going to help American consumers or producers and will partially undercut the gains of tax reform," he said. "The solar industry in the U.S. was opposed to these tariffs and estimated they could cause a loss of 80,000 jobs."

Giovanetti said trade war policies are in general bad for consumers, as noted by the concept of mercantilism in Adam Smith's "Wealth of Nations."

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