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The U.S. and the European Union have reached a deal to ease U.S. tariffs on steel and aluminum imports that date to former President Donald Trump, levies that were a longstanding irritant to European leaders. U.S. Commerce Secretary Gina Raimondo said Saturday that the arrangement would maintain the tariffs but would allow limited amounts of European imports to enter...
Governments in the U.S., Europe and other developed nations are embarking on a climate-change experiment: using tariffs on trade to cut carbon emissions. The idea has the potential to rewrite the rules of global commerce. Policy makers on both sides of the Atlantic are looking at targeting steel, chemicals and cement. The tariffs would give a competitive advantage to...
Another week passes, and another Trump-era trade irritant between the US and EU has been partially resolved. This time it’s the 2018 steel and aluminium tariffs the US slapped on European metals on contentious national security grounds. Europe retaliated with duties on a range of US goods, and despite halting an escalation in tariffs earlier this year, they had more...
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. The European Union brought carbon border adjustments into the spotlight last year. Since then, the proposal has gained momentum among legislators who want to expand its scope and ambition and...
Senators from both parties have signed on to legislation that would calculate the emissions intensity of industrial materials produced in the United States. It’s a necessary step, advocates say, toward a carbon border adjustment mechanism, or CBAM, that would slap tariffs on carbon-intensive imports. … In the meantime, the “PROVE IT Act” can fill a necessary void...