U.S. Economic News

February 20, 2018

U.S. News

The Financial Times reports that the possibility of U.S. tariffs on steel and aluminum imports provided stock market boosts to some of Europe’s largest steel producers. The Commerce Department on Friday recommended substantial tariffs on imports of steel and aluminum, which would normally be unwelcome to foreign firms, though many European metals producers have operations in the U.S. that would stand to benefit from protectionist policies. FT

According to the Wall Street Journal, while tariffs on imported solar panels may slow the expansion of solar capacity, government mandates requiring the use of renewable energy will likely mean that solar capacity should keep expanding. The cost of solar panels has continued to decline as storage technology has improved and firms have been stockpiling panels in advance of the tariffs, meaning that they will likely be able to comply with government mandates to build new solar installations. WSJ

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