Posted on 10/02/2023 6:55:12 AM PDT by Tench_Coxe
The EU's effort to become climate neutral is kicking into high gear — as of Sunday the bloc's carbon border tax enters a trial period, which is likely to raise tensions with key trading partners.
The Carbon Border Adjustment Mechanism — or CBAM — was adopted last year with the aim of ensuring that goods manufactured in Europe, and subject to the EU's Emissions Trading System, which sets a price on carbon emitted, will be able to withstand competition from products made in countries where polluting doesn’t come with the same price attached.
Starting October 1, the EU's trading partners will have to report the greenhouse gas emissions tied to their exports of iron, steel, cement, aluminum, fertilizer, hydrogen and electricity.
(snip)
The point of the exercise is to both shield EU companies from unfair completion and to nudge other countries into setting their own price on carbon. Non-EU producers can deduct the cost of CBAM if they have their own domestic carbon tax.
(snip)
Ukrainian businesses, however, will be exempted because of the war. A European Commission official confirmed that the legislation contains a “provision to tackle exceptional and unprovoked situations with destructive consequences on the economic and industrial infrastructure in a given country.”
(Excerpt) Read more at politico.eu ...
Note even the Soviets attempted such a scale of central-planning
What’ll be interesting is if the EU taxes the Chicom products with the pollution fee.
If the anti-carbon regimes choose to trade only among themselves, they will lose the benefits of free trade, and their economic decline will accelerate.
the solution is simple: a boycott: vall trading partners should simply refuse to do all of the required paperwork ...
The EU didn’t get the Memo ,Klaus Schwab and his world enslavement forum have moved to a Water Crisis ,LOL
Just pass a reciprocal tax on EU goods.
I refuse to pay Politico freaks. Period.
I did quick screen capture with Control-A Control-C Control-V
This is the pivot point. It is TIME to end the UN, Evict the UN from the USA and stop supporting or doing business with the EU. (our ally Poland is captured there)
We must refuse to pay any carbon tax. Tell the Globalist B_tards to go to Hell whence they came.
We DO NOT NEED them. F um.
The Communism tax. It costs a hell of a lot more to run a communist s***hole country than it does a capitalist republic. Joe Bidenskyyyyy is currently proving that.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.