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Synopsis Europe wants to cut its emissions by 55% by 2030 on the way to net-zero by mid-century. To do that, energy-intensive industries are being charged for polluting. iStock The EU’s levy would apply to steel, cement, aluminum, fertilizer and electricity, and is likely to upend trade and become a new source of international tension. The European Union wants to enact the world’s first pollution-import levy on global competitors. The details will take a while to hash out. The measure, which will affect producers of steel, cement and aluminum in countries with looser environmental rules, would boost commodity costs and reroute trade flows. But it will take years to implement and have a limited impact on global emissions. Experts are already warning that the Carbon Border Adjustment Mechanism will be a nightmare to put in place.

Lipetskaya oblastThomas rauschGerd gotzJames whitesideWood mackenziePaolo gentiloniOliver sartorMorgan stanleyUnited coEuropean unionEuropean parliamentWorld trade organizationUnited nationsCarbon border adjustment mechanismEuropean commissionerBertelsmann stiftung