President Donald Trump participates in the signing of executive orders Thursday in the Oval Office of the White House in Washington, D.C. Commerce Secretary Howard Lutnick is shown at right. Trump signed an order imposing new rules on tariffs on polysilicon and related products. Photo by Aaron Schwartz/UPI | License Photo
Aug. 7 (UPI) -- President Donald Trump has signed an order imposing tariffs on polysilicon -- a key component in solar panels and semiconductors -- and related products in a bid to help U.S.-based manufacturers and compete with Chinese production.
The order goes into effect in early December. It will create a minimum price for polysilicon imports and a 15% tariff on products made with polysilicon.
"This will bring the supply chain here. We've got the industry here; it's too small, and it's going to explode," said Howard Lutnick, U.S.commerce secretary, during the signing Thursday at the White House.
Solar stocks rose in premarket trading Friday after the announcement, CNBC reported.
