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MercoPress, en Español

Montevideo, November 17th 2024 - 10:24 UTC

Tag: Carbon Mechanism

  • Saturday, October 7th 2023 - 07:16 UTC

    EU begins applying the Carbon Mechanism on seven imports with surcharges to 20% to 35%

    With the adoption of the Carbon Border Adjustment Mechanism (Cbam), Brussels subjects imports of seven inputs to surcharges of 20% to 35% if production exceeds its environmental limits

    The European Union has been proactive in pressuring its trading partners to adhere to its domestic greenhouse gas emissions reduction goals, primarily rooted in protectionism. First, with the imposition of the Deforestation Law last June. Now, with the adoption of the Carbon Border Adjustment Mechanism (Cbam), Brussels subjects imports of seven inputs to surcharges of 20% to 35% if production exceeds its environmental limits. Brazil is among the top ten potentially most affected exporters, especially in the iron and steel sectors.