Europe Just Launched the World's First Carbon Tariff. Will the United States Follow Suit?

[Think. Again.]

By Kristoffer Tigue, October 3, 2023
Full Article: https://insideclimatenews.org/news/03102023/todays-climate-european-union-worlds-first-carbon-tariff-united-states/

In the U.S., where climate policy has been highly politicized, the concept of a carbon tariff has recently emerged with rare bipartisan support.

The EU on Sunday officially began phase one of its carbon tariff.

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Under the EU’s new policy, foreign companies must now report all the greenhouse gas emissions associated with certain imported goods: cement, steel, iron, aluminum, fertilizers, hydrogen fuel and electricity. Starting in 2026, any of those imports that don’t meet the bloc’s emissions standards will face an additional fee when crossing the border. Other goods will be considered for the tax in the coming years, the European Commission said.

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The EU’s carbon tariff “is not about trade protection,” Paolo Gentiloni, the European economy commissioner, told Reuters. “It is about protecting the EU’s climate ambition and seeking to raise the level of climate ambition worldwide.”

Read the tariff text here: https://taxation-customs.ec.europa.eu/carbon-border-adjustment-mechanism_en

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In the United States, where climate policy has been highly politicized, the concept of a carbon tariff has recently emerged as a rare opportunity for bipartisan support.


Earlier this year, U.S. Sen. Bill Cassidy, a Republican from Louisiana, introduced a bill in Congress proposing a carbon tariff. Called the “Foreign Pollution Fee,” Cassidy said the legislation “would curtail China‘s ability to undercut U.S. manufacturers by penalizing China for not meeting the same reasonable environmental standards to which domestic manufacturers are held” and “level the playing field for American workers, making it less likely that jobs migrate to China.”

Democrats proposed a similar bill last year, called the “Clean Competition Act,” championed by U.S. Sen. Sheldon Whitehouse of Rhode Island. The Whitehouse bill, however, would also charge domestic companies a fee if their emissions exceeded the average for their industry, E&E News reported.

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Full Article: https://insideclimatenews.org/news/03102023/todays-climate-european-union-worlds-first-carbon-tariff-united-states/

[multigraincracker]

1. I'm for it mostly, but like to see credit or

refund to those that have reached SS age and have not reproduced. As I have not, by choice never had any offspring, my carbon footprint ends in 10 to 20 years. Those that chose to have 2 or more kids need to have a reduction in benefits and taxes to be fair.
Under the current system, those that have more kids pay even less. I would think those deductions must end after 2 kids and go up for every one after that.
Earth cannot support 3 billion people and going up.

[Think. Again.]

3. That might be a completely different topic...

...these carbon tariffs apply to companies doing business, not individual taxpayers.

I personally feel that the Individual Tax Code is far too complicated and unbalanced as it is, but again, that's a 'wholenother' conversation.