China: European CO2 tax is really bad for the climate

The time has come in 2023: then the EU wants to gradually introduce a new border line. For example, anyone who wants to import Chinese steel, which emits a lot of emissions during production, has to pay a CO2 tax on it.

The border tax is intended to protect European companies. They will have to create a lot of greenery in the coming years, which will cost money. To ensure that these European companies are not successful, so buying products from companies outside of Europe that are cheaper, but more polluting will become more expensive.

Economic damage

China is not happy about this. In steel and cement production, the Chinese will be hard hit by the new line.

A spokesman for China’s Ministry of Environment and the Environment said the new tax was not in line with WTO rules. This will undermine mutual trust in the global community and the prospect of economic growth.

According to the Chinese, this economic growth is necessary to do something about climate change. This is precisely the CO2 tax, which damages countries’ willingness and ability to do anything about climate change. The spokesman said.

Americans are angry, too

Earlier, the Americans pointed out that they did not see a European border line. Wilbur Rose, then secretary of the economy, said in 2020: “If the taxman is a protectionist (..), we will respond.”

The Biden administration is also critical of the European plan. Climate Ambassador John Kerry Recommended This will be detrimental to trade relations and economies.