Solar power companies desperate for a private audience with U.S. president Donald Trump shelled out big bucks to attend a fundraiser in Greenville, South Carolina earlier this week on behalf of embattled Palmetto State governor Henry McMaster.
Executives from three solar companies – Cypress Creek Renewables, CB&I and DEPCOM power – each ponied up $50,000 in bundled contributions to participate in a VIP reception prior to Trump’s fundraiser for McMaster, whose gubernatorial candidacy is on the ropes and in desperate need of a cash infusion.
That’s a total of $150,000 – all so these three executives could have the president’s ear for a few minutes.
What did they discuss? We’re not sure, but our guess is these executives are very interested in how Trump will handle a recent 4-0 ruling issued by the U.S. International Trade Commission (ITC).
This ruling determined that foreign companies – specifically those based in Mexico and Korea – have caused “serious injury” to domestic solar cell and module manufacturers.
“The U.S. solar manufacturing industry finds itself at the precipice of extinction at the hands of foreign market overcapacity,” one of the companies that brought the grievance noted.
The ITC ruling allows Trump’s administration to impose tariffs or other remedies as a means of corrective action – but its recommendations will not arrive on the president’s desk until November.
And Trump doesn’t have to follow the panel’s advice if he doesn’t want to … although he campaigned extensively on reviewing trade regulations to give American businesses more favorable competitive conditions.
Stay tuned … we’ve got several stories yet to come exploring the big money that shelled out for Trump’s event with McMaster.
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