Indian officials warned that the EU carbon sample This could be a contract for the provision of commercial talks with the block, after obtaining the promise of compensation for the costs of carbon taxes in a similar commercial pact with the United Kingdom.
“We are going to fight back for non -pricing obstacles to come into play,” said on Wednesday May 7.
During a separate event on Tuesday, meanwhile, the Minister of Finance of Delhi, Nirmala Sitharaman, described the tax on EU carbon as a “repetition of colonialism”.
“This should no longer be the spirit with which international cooperation, international trade, can happen,” she said, adding that developing countries should be “green” themselves.
The complaints of India concerning the CBAM (the adjustment mechanism of the carbon borders) are not new. Last year, he threatened to file a complaint to the World Trade Organization compared to CBAM, after accused the EU of raping the principle of non-discrimination of the WTO.
New Delhi wants small businesses to be exempt from CBAM as part of a commercial agreement with the EU.
Last week, Goyal and The Commerce Commissioner of the EU Maroš Šefčovič repeated their commitment to conclude talks on a commercial pact by December. The European Commission considers a trade agreement in India as a key element of its plans to diversify its trade relations in the threat of prices on EU property by the American Trump Administration.
Although the Commission insists on the fact that it does not intend to reduce the CBAM, the UK’s trade agreement with India, which was announced earlier this week, includes the right to retaliate or request compensation in the United Kingdom for its industry for the losses suffered because of CBAM.
Although the United Kingdom is outside the EU, he tabled the bill on Wednesday to create his own CBAM, based on EU sampling.
EU Commission officials claim that the levy, which is one of the laws on the green agreements of the block, will push other countries to penetrate and move to more ambitious environmental regulations. The CBAM should be fully in place from 2026.
They add that CBAM will create a fair playground for national EU companies, which are already required to comply with the new strict rules of the block on the decarbonization industry.
In March, the director of the EU promised to review the CBAM by the end of this year, but indicated that it “would extend the scope of CBAM to certain downstream products based on steel and aluminum” rather than watching exemptions.
The CBAM will apply to imports of a range of products, including iron and steel, aluminum, cement, electricity, hydrogen and fertilizers, which are linked to high carbon emissions. The tax will be imposed on all imports of these products to the EU if the carbon emission at the program stadium is greater than a prescribed threshold. It should apply additional costs between 20 and 35%.
“He (carbon tax) will actually lead to inflation, infrastructure becomes more expensive, cars become more expensive in Europe. It will also open a plethora of opportunities for us. Not only in Europe but also in the rest of the world,” said Goyal.
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