China said on Monday the European Union’s plan to impose the world’s first carbon border tax will expand climate issues into trade in violation of international principles and hurt prospects for economic growth.
The European Commission this month outlined plans to impose a Carbon Border Adjustment Mechanism (CBAM), or CO2 tariff, on polluting goods from 2026, forcing some companies importing into the European Union to pay carbon costs at the border on carbon-intensive products such as steel.
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