The 27-country EU is negotiating a plan to introduce the world's first carbon border levy from 2026, forcing companies importing into the bloc to pay carbon costs at the border on certain polluting products such as steel, cement and aluminium.
"If the United States has the same trajectory as we have in terms of emission reduction, then ... the 'carbon club' is on the table. Because that means that the carbon footprint of a ton of steel in the U.S. is comparable to the carbon footprint of a ton of steel in Europe - then you don't need a carbon border adjustment mechanism," Timmermans said.
U.S. President Joe Biden has pledged to slash U.S, emissions by at least 50% from 2005 levels by 2030.
Source: Energy Industry News (energyindustrynews.net)
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