No Shade on Solar: Biden Stands Firm on Solar Tariff Waivers, House Legislation Faces Veto - Array Technologies (NASDAQ:ARRY), Cleanspark (NASDAQ:CLSK)

U.S. President Joe Biden will reportedly Veto congressional efforts to reverse his policy to waive solar tariffs on Cambodia, Malaysia, Thailand, and Vietnam for two years, White House officials told Reuters.
Biden does not plan to extend the tariff waivers after two years, citing increased domestic production.
In June 2022, Biden waived tariffs on solar panels from the four South Asian countries to create a "bridge" while the U.S. boosted manufacturing.
Last week a U.S. House of Representatives committee voted to restore the tariffs on the solar panels from the four countries, reversing Biden's suspension, saying that Biden's policy has worked and points to increased domestic solar production since Biden came into office.
That legislation is expected to come up for a full vote in the House.
"This legislation would sabotage U.S. energy security. It would undermine our momentum in creating a massive new domestic industry. It would sideline workers who are fired up to build these projects and operate them across the country," Ali Zaidi, Biden's national climate adviser, told Reuters.
"It's not about slowing things down. It's about fundamentally undermining our progress towards increased energy security and having the tools we need to attack the climate crisis," he said.
Another official added that the U.S. is on track to increase domestic solar panel manufacturing capacity 8-fold by the end of 2024.
"Given the strong trends in the domestic solar industry, the President does not intend to extend the tariff suspension after 24 months in June 2024," the White House said in a "Statement of Administration Policy" obtained by Reuters before its official release.
"If Congress were to pass this joint resolution, the President would veto it," it said.

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