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EU ‘inviting disaster’ by imposing carbon tax on steel, says Piyush Goyal in Berlin
Goyal said the CBAM could impose 20% to 35% tariffs on Indian steel, aluminium and cement exports and raise costs for European industry.
- On Thursday, Commerce and Industry Minister Piyush Goyal warned that the European Union is "inviting disaster" by imposing a carbon tax on steel during the Berlin Global Dialogue.
- Goyal claimed the European Union is creating artificial boundaries through the Carbon Border Adjustment Mechanism , imposing over 75 regulations that he argued undermine European industry competitiveness.
- "Your cost of living will go up," Goyal said, citing new duties on steel and aluminium, while Germany's auto industry sales have dropped 15 to 20% over the last decade.
- India intends to trade with nations like Singapore that lack carbon restrictions, as Goyal noted India supports 17% of the world's population while contributing only 3-3.5% of carbon emissions.
- Cautioning that the world is now reciprocal, Goyal warned restrictive regulations hinder international cooperation and may ultimately "outprice" the European Union's own industries in global markets.
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'Problem was caused by you': In Berlin, Piyush Goyal lambasts Europe over carbon emissions, climate crisis
Piyush Goyal said that Europe represented probably 3 or 4 per cent of the world's population, yet the contribution to those carbon emissions is humongous, while, India's per capita contribution to carbon emissions is probably less than 10 or 15 per cent.
·Noida, India
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In Berlin, Piyush Goyal dismissed Europe's "equal blame" climate theory. India, with 17% of the world's population, emits less than 3%, while Europe, with 3-4% of its population, emits 18%.
EU ‘inviting disaster’ by imposing carbon tax on steel, says Piyush Goyal in Berlin
The Union Minister said the EU is “shooting” itself in the foot by bringing in more regulations, restrictions on itself, and closing its borders, something that actually helped them become a developed set of nations.
·Chennai, India
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Coverage Details
Total News Sources31
Leaning Left2Leaning Right11Center3Last UpdatedBias Distribution69% Right
Bias Distribution
- 69% of the sources lean Right
69% Right
12%
C 19%
R 69%
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