EU carbon tax to hurt global trade, not to stop carbon leakage: GTRI, ET Auto

Carbon Tax: "Carbon leakage is the phenomenon of companies moving production to countries with weaker environmental regulations to avoid paying carbon prices in the EU. This objective could have been achieved by merely taxing imports from the EU firms, which have shifted production to other countries. However, the EU chose to tax all world imports through CBAM," GTRI Co-Founder Ajay Srivastava said.

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