India Braces for a Steel Export Slump as Europe’s Carbon Tariff Takes Hold

India Braces for a Steel Export Slump as Europe’s Carbon Tariff Takes Hold

A carbon tax on imports that kicks in next month for the European Union will lead to a slump in Indian exports of steel to the bloc, forcing producers to look for alternative destinations, Reuters has reported, citing industry executives and analysts. The so-called Carbon Border Adjustment Mechanism, or CBAM, was devised to put European industrial producers on a more equal footing with non-European peers that enjoy much laxer emission-related re…

Green Self-Harm: The EU CBAM blocks Indian steel just as Europe seeks to rearm. Putin thanks from India. - Economic Scenarios

While Brussels fine-tunes its climate bureaucracy, New Delhi seeks new markets and welcomes Putin. A masterpiece of geopolitical timing. Next month will