The European Union has created new rules for taxing imports based on the amount of carbon dioxide that companies emit when making the goods. Experts say it's the first time a major economy has linked climate and trade policy. 💰 Fewer emissions during the production of goods sold to the EU will generally mean lower taxes for countries. 💰 The EU hopes the taxes will encourage other countries to reduce emissions or draft similar laws. 💰 But international trade only accounts for 20-30 percent of global emissions, so trade policies can only do so much. 💰 U.S. Lawmakers on both sides of the aisle are drafting plans for a similar border tax policy. 💰 An analyst tells NPR these protectionist policies could cause trade conflicts and hinder global climate change efforts. |
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