Bidenomics will go down in American history the same way Abenomics shattered what was an incredible Japanese economy.
Biden mistake could end America's solar industry
President Biden has talked a lot about “Made in America” — and creating
10 million clean energy jobs. However, he’s just made a serious error for America’s solar manufacturing industry that poses grave consequences for the nation’s energy future, including a greater dependence on Chinese solar panels.
China accounts for roughly
70 percent of global solar panel production. Much of that stems from the massive subsidies Beijing provides to its state-owned manufacturers. China also “dumps” solar panels in the world market at below the cost of production — all to put U.S. solar companies out of business.
Beijing’s tactics have worked. Between 2010 and 2016, America’s solar industry
almost disappeared under a flood of Chinese solar cells. It wasn’t until the Trump administration imposed tariffs on Chinese solar products in 2018 that America’s solar industry began to regain its footing.
Since then, U.S. solar companies have invested in new production and new workers. Last year, American-made solar cells accounted for
18 percent of new U.S. installations — an all-time high.
What Biden has done is signal that China can ship more solar panels to the U.S. by any means necessary. And he’s sabotaged the Commerce Department’s investigation into Chinese solar manufacturers illegally circumventing U.S. tariffs. Regardless of what the Commerce Department determines, no Chinese company can be punished since the president’s declaration gives them a free pass for the next 24 months.
Beijing Biden at it again....