03 Oct, 23

EU Launches Carbon Border Tax To Push Greener Global Trade

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The EU’s Carbon Border Adjustment Mechanism (CBAM), commonly known as the “carbon border tax”, kicked off on October 1 in the first transitional phase for imports of several carbon-intensive groups of products into the European Union.      The first phase of the EU’s carbon import pricing legislation will not impose levies on the products—such will apply from 2026.  However, importers of iron and steel, cement, aluminum, fertilizer, hydrogen, and electricity into the EU will be asked—as…

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