Bipartisan bill would lay groundwork for U.S. carbon tariffs

Sen. Chris Coons (D-Del.) during a meeting of the World Economic Forum in Switzerland. Markus Schreiber/AP Photo

Senators from both parties have signed on to legislation that would calculate the emissions intensity of industrial materials produced in the United States.

It’s a necessary step, advocates say, toward a carbon border adjustment mechanism, or CBAM, that would slap tariffs on carbon-intensive imports.“We need our own math,” said George David Banks, a conservative climate adviser and former climate official in the Trump administration. “The Europeans are moving forward with their own CBAM … and [they] will come up with our own math for […]

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By Donato