The US has moved closer to a carbon border adjustment tax and there are warnings for Australia of repercussions from China.
: “The bipartisan Prove It Act will provide reliable data that’s needed to quantify the climate benefits of the US investments in cleaner, more efficient manufacturing practices and to hold nations like China accountable for their emissions-heavy production of goods like steel.”
“It cannot be ruled out that China could seek to pass on the cost of an American carbon tax indirectly to Australia by raising tariffs on Australian mineral exports. That is the type of game that protectionist policies encourage countries to play.” “But I think the policy achieves a lot of goals, including restoring our manufacturing base. It can be useful geopolitically with a group of allies. It could help create a trading block against China.”
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