EU's "Green Tariff" on Steel, Cement Begins Today
Part of composite article Violence Against Law Enforcement and Service Members Erupts Across U.S. View full article →
A major new EU rule starts today. It will change how countries trade high-carbon goods like steel and cement.
The system is called the Carbon Border Adjustment Mechanism (CBAM). Its goal is to create fair competition. Companies selling these goods into the EU must now prove they meet EU climate standards. If they do not, they will face a cost.
The EU says this will encourage global industries to reduce emissions. However, experts warn of early confusion. The rules are complex, and some details are unclear.
Notably, the UK has no special deal with the EU on this tariff. British exporters must follow the new system.