More products are being added to a proposed carbon border fee, affecting billions of dollars of American goods
CLIMATEWIRE | The world’s first carbon border fee was always expected to roil nations that export their emissions through polluting goods. Now it could go further than originally proposed.
Europe is moving aggressively forward. Its latest amendment to include more sectors under the tariff would affect $16.9 billion in exported U.S. goods. That’s a huge jump compared with the E.U.’s initial plan, which called for enforcing the carbon fee on $2.8 billion in American exports. By 2030 all sectors covered by the E.U.’s emissions trading system would be included.
“I do worry,” he said at an event focused on climate and trade. “It may very possibly become very problematic for us if they would go too far ahead of us without a reconciled solution.” “There will still be some issues between us, but the benefit from both continent and country will be higher than the administrative burden or the tariff that needs to be paid,” Chahim said.The American Petroleum Institute has endorsed carbon pricing and is drafting a carbon tax proposal that includes support for a carbon border fee .
BASF SE, a multinational chemical company with global headquarters in Germany, told E&E News that it’s monitoring “all policymaking” that might have an impact on its business operations. Republicans have gelled around the policy as a competitiveness measure that would benefit U.S. businesses over global competitors, mainly China and Russia. And they’re staunchly opposed to pricing carbon. Experts argue that levying a fee on imported goods without also subjecting domestic producers to a carbon tax is not actually a border adjustment — and it could face allegations of protectionism at the World Trade Organization.
The Republican plan may not actually reduce emissions. A recent study by the Niskanen Center found that some of the world’s biggest polluters don’t export a large portion of their emissions, making punitive measures, or tariffs, a lot less effective at reducing emissions than domestic climate policies.
Parliamentarians reached an agreement Tuesday that would maintain the ambition of the border fee after negotiations ran aground in European Parliament last week over a disagreement about reform to the E.U.’s emission trading system. A final vote is expected next week.
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