Killing CBAM European Commission Executive Vice President Frans Timmerman says that the Carbon Border Adjustment Mechanism would not apply to Japan due to that country’s green measures. He then mentioned discussions with the U.S. on coordinating such measures. While the Biden Administration has mentioned support for a border carbon tax, they have not made it a part of the gargantuan $3.5 trillion reconciliation package. In fact, given the spike in energy prices, it is now politically unpalatable to further raise the cost of conventional energy.  Africa specialist Uri Dadush of the Policy Center for the New South argues that the EU’s CBAM is likely to do more harm than good. He says the fact that Brussels has only designat...

TAGS – Europe, North America