European Union (EU) countries decided to impose the world’s first carbon dioxide (CO2) emissions tariff on imports of polluting goods.Starting from 2020, the European Union (EU) wants to introduce carbon dioxide (CO2) emissions costs on imports of steel, cement, fertilizers, aluminum, and electricity.The finer details of the plan are not yet finalized, which will be worked out in future negotiations.The aim of imposing this tariff is to protect the European industry, as the European market is flooded by cheaper goods made in countries with weak environmental rules.According to the EU, this carbon border tariff is an attempt to create a level playing field by imposing the same carbon dioxide (CO2) costs on EU companies and those abroad.
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