U.S. President Donald Trump put high tariffs on imported solar panels and washing machines on Monday.
The decision was a setback to the renewable energy business, but a boost for Whirlpool Corp..
The steep tariffs followed findings by the U.S. International Trade Commission that the imported products “are a significant cause of serious injury to domestic manufacturers.”
The tariffs were lower compared to manufacturers had hoped for while the recommendations that are harshest were exceeded by the washer tariffs .
The restrictions aim to help manufacturers consumer costs for installations and washers may increase.
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