How bad does tariffs hurt gtat. After the news hit gtat went from 4.80 to 4.21. It had a big impact. Is tomorrow another down day?
That is what CEO said since they are doing so little solar now. But their website yesterday had a position statement against it.
Yes! And more to follow.
And they could actually help GT as china mfg move production out side of china!
And that is exactly what the Chinese will do. They already had a contingency plan in place to build plants in other Asian countries with equally cheap or cheaper labor and ship from there. Workers in some African countries receive .25 per hour wages. They may even build a plant in the U.S., reducing shipping costs from China, while the Chinese government continues to subsidize the companies.
It will take a little time to get theses plants up and running, but it will happen, probably within a year. Keep in mind that the exact tariff amounts won't even be decided until Oct. By then the Chinese companies may be up and running in other cheap labor countries. The Chinese gov., totally committed to solar energy, may even subsidize the solar companies by the amount of the tariffs.
Bottom line is that the Chinese will figure out a way to outsmart the short-sighted U.S. gov. Let's not forget that the Chinese finance the lion's share of the staggering U.S. debt. What if the Chinese pulled their vast finances out of U.S. debt? The U.S. would go from the current LT recession to serious depression. U.S. bureaucrats are stupid!
Stupid decision by U.S. Government, will accomplish nothing in long run, only hurt U.S. installers in U.S., costing jobs, hampering critical grid parity in U.S. Chinese may also retaliate by imposing tariffs on U.S. products to China, such as automobiles. All because of a few whining solar companies that can't compete, some that will be out of business before long regardless - perhaps selling facilities to a Chinese co.? The biggest whiner, Solar World, has received generous subsidies from German government, now reduced considerably, so what's the difference?