China’s environment ministry slammed the European Union’s proposed carbon border tax, saying Monday that the policy unnecessarily creates climate-related trade friction.
The statements are the first official comments from China on the adoption of a Carbon Border Adjustment Mechanism proposal by the European Commission on July 14. Making the policy meet World Trade Organization rules is a key design issue.
The CBAM “violates WTO rules, impacts the free and open multilateral trading system, and seriously damages the mutual trust of the international community and the prospects for economic growth,” Liu Youbin, spokesman for the ...
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