Border Carbon Adjustments

Published by DonDavidson on

Time Magazine is reporting that the European Union (EU) plans to implement what is called a “border carbon adjustment,” beginning in 2023. A border carbon adjustment (BCA) is basically a tariff to penalize countries and corporations that the EU believes are not doing enough to fight climate change. A BCA would raise the price of products entering the EU from those countries. The BCA is a response to complaints by European companies that they have been placed at a competitive disadvantage because of carbon restrictions they must comply with.

The EU would begin with tariffs on carbon-intensive products like iron, steel, and cement, and expand to other products by 2026. Such a policy could be particularly hard on Chinese companies, many of which are notorious for being carbon polluters.

It’s unclear at this point whether the United States might opt to impose a BCA of its own, although both sides of the political spectrum have expressed interest in the idea.

To read more about climate change—what it is, what is causing it, and how it may be fulfilling biblical prophecy—click here.


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