SunPower says it will seek exemption from Trump tariffs

|About: SunPower Corporation (SPWR)|By:, SA News Editor

SunPower (SPWR -4.5%) CEO Tom Werner says the company plans to ask for an exemption to the 30% tariff on imported solar panels, saying it could hire more workers at its San Jose, Calif., headquarters and invest in a “pilot” factory there if it is excluded from import duties.

Werner says SPWR’s solar panel is a high-efficiency model that produces more power than any other in commercial production, allowing the manufacturer to sell it for a premium to competitors from China.

SPWR shares have swooned ~11% since Pres. Trump approved the tariff on Monday.

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