US and EU Consider Carbon Emission Tariffs on Chinese Steel
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[Asia Economy Reporter Eunju Lee] The United States and the European Union (EU) are considering imposing new carbon emission tariffs on steel and aluminum products from China.
According to Bloomberg News on the 5th (local time), the US and the EU are reviewing the introduction of tariffs as part of their response to climate change. However, it is still in the early discussion stage, and no formal proposal has been made yet.
Bloomberg News analyzed that China is likely to be the main target of the tariffs, as it is the largest producer of aluminum and the largest carbon emitter.
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Bloomberg News reported, "The Biden administration in the US is discussing what legal grounds to apply for the new tariffs." It also added, "It is difficult to rule out the possibility that other countries, such as Japan, could also become targets of the new tariffs."
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