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Internally, EU has carbon trading, putting a price on CO2 emissions since 2005. Now this is designed to increase the price over time by cutting down on the allowed total emissions. To prevent European companies being disadvantaged compared to eg Chinese ones, it will tax imports of energy intensive products like cement and batteries from countries where there is too low a price on CO2 emissions.
Internally, EU has carbon trading, putting a price on CO2 emissions since 2005. Now this is designed to increase the price over time by cutting down on the allowed total emissions. To prevent European companies being disadvantaged compared to eg Chinese ones, it will tax imports of energy intensive products like cement and batteries from countries where there is too low a price on CO2 emissions.
This may reduce exports. But it doesn't affect the internal consumption in China and India.
Mook
*MySmiley*
"Bustin' makes me feel good!"
Ghostbusters, by Ray Parker Jr.
*MySmiley*
"Bustin' makes me feel good!"
Ghostbusters, by Ray Parker Jr.
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