From Breakingviews: The EU can afford to act tough on carbon border taxes
A cloud of waste gas billows out of chimney stacks at a wood processing factory belonging to Switzerland's Krono group in the eastern German village of Heiligengrabe near Berlin June 2, 2004. REUTERS/Christian Charisius
Opponents of a so-called Border Carbon Adjustments have several lines of attack. Practically, attributing specific emissions to each imported good is a recipe for a bureaucratic muddle. Legally, World Trade Organization rules frown on discriminatory tariffs. Politically, BCAs might only worsen the past year’s tit-for-tat tariff fight between Europe and the United States.
Yet for each negative, there’s a pushback. Practically, the EU’s 17% share of world trade in goods and services in 2018 gives it clout. For example, the EU’s so-called REACH standards on potentially hazardous chemicals have become a de facto near-global standard. Legally, while WTO rules prevent differential treatment against imports, there’s nothing banning varying taxation on individual sectors. Besides, environmental grounds can justify some types of special treatment.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Casino, Intermarche's buying tie-up focus of EU antitrust probeFrench supermarket groups Casino and Intermarche are being investigated under an...
Read more »
EU to remove Belize from tax haven blacklist this weekEuropean Union finance ministers are set to remove the Central American country ...
Read more »
https://people.comGet the latest news about celebrities, royals, music, TV, and real people. Find exclusive content, including photos and videos, on PEOPLE.com.
Read more »
EU to remove Belize from tax haven blacklist this weekEuropean Union finance ministers are set to remove the Central American country ...
Read more »