Goods imported from Asia and America may be subject to carbon border tax

The Vice-President of the European Commission Frans Timmermans during the COP25 climate summit held in Madrid presented the position of the European Union towards countries that do not meet the objectives of the Paris Agreement and thus pose a threat to industry in Europe.The EU is considering taking a decisive step, namely a carbon border tax applied to imported goods from countries without an Emission Trading System.Timmermans hopes that such actions will not be needed, but at the same time warns that ‘if it is necessary, we will not hesitate to take them’, because in his opinion it is extremely important for Asian and American countries: ‘to follow the same direction’.