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Carbon Curtain Conundrum: EUROMETAL Exhorts CBAM Expansion
Twenty European industry associations & a major trade union have asked the European Union to widen its carbon border tax. The group, which includes the metal distribution body EUROMETAL, published a joint statement on Oct. 19. It wants the Carbon Border Adjustment Mechanism to cover finished & semi-finished goods, not just raw steel & aluminium. The groups warn that uncovered products could be replaced by cheaper imports or made abroad instead. Sectors at risk include construction, cars, machinery, packaging & clean energy equipment. Negotiators met on Oct. 20.
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