US EditionEU To Reject India Demand For Carbon Tax Exemption
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3 Articles
COP30: EU Doubles Down On Carbon Import Tax, Rejects India Pushback
European Union (EU) officials at COP30 in Belém staunchly defended a sweeping carbon border tax that is poised to reshape global trade even after countries like India and other major economies decried the policy as unfair and protectionist.
The time has come to impose the broadest possible carbon pricing, the European Union argued on Monday at COP30, an implicit response to attacks from China and other countries against its carbon border tax.
EU To Reject India Demand For Carbon Tax Exemption
The European Union is set to reject India’s demand that its exporters be exempt from paying the bloc’s new carbon tax, that will be applicable from next year, the Financial Times reported citing four officials involved in the process. The EU’s new carbon border adjustment mechanism — CBAM — will subject Indian exporters to a large import duty that will be set according to the amount of carbon emitted during manufacturing. According to Indian tan…
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