Call for ‘carbon tax’ on imports and FDI in fossil fuels

Border tariffs should be applied to prevent countries outside the EU from gaining a competitive advantage by eschewing climate policies that increase costs for manufacturers

Border tariffs should be applied to prevent countries outside the EU from gaining a competitive advantage by eschewing climate policies that increase costs for manufacturers, the Trade Justice Movement and Transport & Environment (T&E) argue in a report released on Friday.

“Countries should also counteract the climate impact of growing trade flows by levying a carbon tax on Foreign Direct Investment (FDI) income derived from coal, oil and gas extraction, the report recommends,” T&E said in a statement.

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