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The administration is
considering taxing imports of carbon-intensive goods, fulfilling a Biden campaign promise to punish China and other countries that are “failing to meet their climate and environmental obligations.”
But economists warn such a policy, known as a border carbon adjustment, would be unworkable unless the United States imposed a carbon tax or a similar pricing scheme on its own domestic goods.
Right now, Biden is not planning a carbon tax as part of his new goal to cut U.S. emissions in half by 2030 and has instead proposed for Congress to pass a clean electricity standard mandating utilities use more zero-carbon electricity.
European Parliament backs carbon border tax
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London | The European Parliament has backed the bloc’s push for a carbon border tax on imports from countries such as Australia, in a plenary vote on Wednesday (Thursday AEDT) that gives Brussels the political imprimatur and momentum to press ahead with the plan.
The European Commission is expected to present the details of the EU’s carbon border adjustment mechanism (CBAM) in June, with a view to getting at least a pilot scheme up and running by the start of 2023.
The European Union is looking for a road out of coal dependency.
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