Negotiators in Brussels worked well into the night on Tuesday in order to codify a new carbon-dioxide emissions tariff on imported goods that climate alarmists contend are heating the planet. Among the goods set to be targeted for the new “carbon tax” are iron, steel, cement, fertilizers, aluminum and electricity.
Dubbed the Carbon Border Adjustment Mechanism (CBAM), the new taxation mechanism was hailed as “the first of its kind” by the European Parliament. The EU is seeking to make the “polluter pay” for emissions they create when making their products for European consumption.