European Parliament passed the carbon border adjustment mechanism which will allow trade tariffs on countries that violate climate standards
European Parliament passed the carbon border adjustment mechanism which will allow trade tariffs on countries that violate climate standards
2 comments
> While the EU has substantially reduced its domestic GHG emissions, those coming from imports to the EU have been constantly increasing, thereby undermining the EU’s efforts to reduce its global GHG footprint.
> Today is a historic day for EU climate legislation. Thanks to CBAM, the EU will finally have a tool to incentivise our global trading partners to decarbonise their manufacturing industries, as no matter where you pollute, you will now have to pay for it, if you want to export to the European market. CBAM will therefore significantly contribute to meeting EU and global climate targets.
CBAM as part of the [European Green Deal](https://ec.europa.eu/commission/presscorner/detail/en/IP_21_3541)
How can the EU adjust tariffs of countries? Isn’t that against WTO rules?