The European Commission plans a carbon border tax aimed at shielding European st...
BRUSSELS - The European Commission plans a carbon border tax aimed at shielding European steel producers and other energy-intensive industries against cheaper imports from countries with less strict climate policies.
The package will include a proposed “carbon border adjustment mechanism” for selected sectors to be introduced by 2021, according to a leaked Commission document, although design and feasibility details are still being worked out. This would effectively introduce an import tax and raise the price of imported goods, boosting the competitiveness of metals and other goods produced in the EU.
Under this option, the carbon leakage issue could be addressed because foreign producers would pay a higher levy if they pollute more than other producers. Under EU regulations, steel, mining and cement are among EU sectors that benefit from free carbon allowances until 2030, because they are deemed at risk of carbon leakage.
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