“This is not market capitalism,” the official said, speaking anonymously to the Washington Post. “These are state policies where they are targeting certain industries.”
Related: Precious Metals ETFs Tumble as Trade Tensions Escalate
The solar sector looked dimmer this year after tariffs on solar panels caused U.S. renewable energy companies to cancel or freeze investments on over $2.5 billion in large installation projects.
The new, diluted tariff scheme excludes many of the largest importers of steel to the U.S. The steel tariff program appears to have less bite than many initially feared, as a number of key steel exporters to the U.S. have now received temporary exemption.
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