SunPower Corporation shares rose more than 8% over the past two days after the company sought an exemption from the newly implemented solar tariffs. Last Friday, SunPower asked the Trump administration to exempt a segment of its solar panel imports from new tariffs, arguing that the move would allow it to reverse proposed investment cuts and ease plans to expand U.S. panel manufacturing efforts.
The controversial 30% solar tariff was implemented in January of this year. While the President hoped to boost U.S. manufacturing, industry experts warned that the move would increase costs and lead to layoffs in the larger installation side of the industry. If SunPower is successful, many other solar companies could make similar arguments for exemptions from the new solar import tariffs, which could offset some of the tariff impacts. (See also: First Solar and SunPower: Effects of Solar Panel Tariffs.)
SunPower shares moved sharply higher after the company requested an exemption from Trump’s solar tariffs. …read more
Read more here: SunPower Breaks Out After Seeking Exemption