New Delhi, Dec 4 India has seen limited success so far in capturing the 'China Plus One strategy', while Vietnam, Thailand, Cambodia, and Malaysia have become bigger beneficiaries, according to a report of government think tank Niti Aayog. "However, India has seen limited success so far in capturing the China Plus One strategy so far," said the report - 'Trade …
Echoing the Centre’s concerns on “protectionism”, the Economic Survey has noted that the forthcoming Carbon Border Adjustment Tax mooted by the European Union “went against the spirit of the Paris Agreement.” The Carbon Border Adjustment Mechanism, as it is called, are tariffs that will apply on energy-intensive goods imported into the European Union. This is to ensure that local manufacturers …
Starting this October, the European Union proposes to introduce a framework for levying a carbon tax on imports of products that rely on non-green or sub-optimally sustainable processes and where carbon emissions are deemed to have not been adequately priced. This Carbon Border Adjustment Mechanism will begin with an import monitoring mechanism and culminate in the levy of duties as …
The government is considering revising its industrial electrification strategy to prioritize adopting cleaner energy sources, such as green hydrogen and battery storage, over fossil fuels amid the need to meet net-zero targets and the potential imposition of taxes on products based on their carbon emissions by developed nations. The move comes as the steel and aluminium sectors, which predominantly use …
Leading energy experts believe new European Union carbon tariffs could trigger a cascade of similar action from Australia's major trading partners that would damage the nation's coal and iron ore industries. Key points: New EU carbon tariffs target cement, iron, steel, aluminium and fertiliser The coking coal industry may be impacted Experts say other countries are likely to implement similar …
Australian exporters to Europe are likely to face millions of dollars in new tariffs after the European Parliament voted overnight to move forward with a carbon levy on products from countries lacking serious pollution reduction programs. Key points: The European Parliament has voted to introduce a carbon levy on imports into the EU from countries with weaker emission rules Australian …
