EU backs plan to impose carbon emissions tariff on imports

On Tuesday, the EU backed a plan to levy a carbon emissions tariff on the importation of goods that create environmental damage during their production. The exact details of the carbon tax plan will be worked out during forthcoming talks. The EU hopes to introduce the tax on aluminum, cement, electricity, fertilizer and steel. n part the move is also protectionist to shelter Europe's industry from deflationary pressures resulting from competition with cheaper goods made overseas where labor and environmental conditions are less. What is the EU's plan?The European Commission proposes 2026 as the date for when the carbon tariff would be introduced. The EU would like to begin a transition period next year. EU nations and the European Parliament are hoping to approve the fin Read More