China Criticizes EU Carbon Tariff
by Matthew Choi (Politico’s Morning Energy) China is denouncing the European Commission’s recent framework for a carbon border adjustment scheme, saying it would violate trade principles and potentially hinder economic development in middle-income countries. “CBAM is essentially a unilateral measure to extend the climate change issue to the trade sector. It violates WTO principles … and (will) seriously undermine mutual trust in the global community and the prospects for economic growth,” said Liu Youbin, a spokesman of the Ministry of Ecology and Environment, according to Reuters.
China often cites its status as a middle-income country to push back on stringent climate measures as it tries to rapidly expand its energy production. The country also had a major hand in blocking the G-20 from adopting the G-7’s stance on shunning coal during their summit in Naples, Italy, last week. READ MORE