Mint Primer: Why EU’s carbon tax is facing pushback
SummaryWTO says environmental measures such as CBAM would result in a 20-35% tax on some imports into the EU.
NEW DELHI : The European Union’s (EU’s) carbon tax—the Carbon Border Adjustment Mechanism (CBAM)—came into effect on 1 October, causing a wedge between developing and developed countries. Interestingly, it is facing resistance from even within Europe. Mint explains.