The European Parliament has now approved legislation to phase in a levy on high-carbon imports based on the CO2 emitted in producing them. As Statista's Martin Armstrong notes, the law is a world-first and awaits final approval from EU countries - expected within a few weeks. The tax aims to put pressure on countries outside of EU borders to put a price on CO2 emissions - while also countering the benefits to EU industries relocating to regions with weaker environmental laws.
As reported by the Wall Street Journal: "The tax gives credit…EU Introduces New Tax To Push For Global Carbon Pricing
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