The daily business briefing: June 6, 2022

Biden to back U.S. and global solar panel industries, British markets rally after queen's jubilee, and more

Prince Charles, Queen Elizabeth II
(Image credit: Max Mumby/Indigo/Getty Images)

1. Biden will take executive action to support domestic solar panel production

President Biden reportedly plans to invoke the Defense Production Act to support the U.S. solar panel industry. He also plans to announce a two-year halt on new tariffs on solar equipment, a move designed to allow companies working on solar projects in the United States to keep using foreign-made equipment while domestic manufacturing catches up. These decisions come after several exporters have reduced or stopped sales of solar equipment to the U.S. in response to an investigation by the Commerce Department that could lead to the imposition of retroactive tariffs.

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Grayson Quay

Grayson Quay was the weekend editor at TheWeek.com. His writing has also been published in National Review, the Pittsburgh Post-GazetteModern AgeThe American ConservativeThe Spectator World, and other outlets. Grayson earned his M.A. from Georgetown University in 2019.