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Mooted EU carbon levy on imports gains momentum, sparks concerns over mounting protectionism
28 August 2020 00:00
A radical plan by the European Union to impose a levy on carbon-intensive imports is increasingly popular among national leaders, although it remains unclear what shape it’s likely to take — a tariff, a tax or an extension of the bloc’s internal Emissions Trading System. Many EU leaders are now of the view that some form of tariff is required to avoid “carbon leaking” — that’s the risk that business will move production to other jurisdictions to sidestep European environmental standards. Yet any EU move to impose a tariff will play out against a backdrop of growing protectionism around the globe, with political uncertainty in the United States contributing to an increasingly difficult trade environment.
A planned EU levy on carbon-intensive imports is likely to be proposed next year.
James Panichi Senior Editor, Asia Pacific
James, an Australian journalist with over 25 years’ experience in print and electronic media, helps to oversee MLex’s coverage of regulatory risk in Asia, with special attention to Australia and New Zealand. In 2016, James was appointed as MLex’s managing editor for continental Europe, overseeing the Brussels bureau’s coverage of EU regulatory affairs and managing a team of 16 journalists in Brussels and Geneva. Previously James worked for the European Voice newspaper, before joining the... Read more