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[...] [CA Rep Scott] Peters and [DE Rep Chris] Coons introduced legislation last Congress to implement a tax on a range of imported commodities, specifically steel, aluminum, cement, iron, and the three fossil fuels: coal, oil, and gas. The uptick in congressional interest comes as the European Union, The World's Largest trading bloc, is on track to implement the first phase of a carbon border scheme in October. The policy will place fees on certain of imported goods, including iron and steel, cement, fertilizer, aluminum, and electricity. [...] Greg Bertelsen, CEO of the Climate Leadership Council, an advocacy group that supports carbon pricing, said the origins of Republicans' interest in carbon border adjustment tools typically stems from economic or trade reasons, while the climate upside is secondary. For Democrats in Congress, it's often the reverse. No matter the topic that piqued other members' interest, the climate reduction benefits align with their agenda, Bertelsen said by phone.
The uptick in congressional interest comes as the European Union, The World's Largest trading bloc, is on track to implement the first phase of a carbon border scheme in October. The policy will place fees on certain of imported goods, including iron and steel, cement, fertilizer, aluminum, and electricity. [...] Greg Bertelsen, CEO of the Climate Leadership Council, an advocacy group that supports carbon pricing, said the origins of Republicans' interest in carbon border adjustment tools typically stems from economic or trade reasons, while the climate upside is secondary. For Democrats in Congress, it's often the reverse. No matter the topic that piqued other members' interest, the climate reduction benefits align with their agenda, Bertelsen said by phone.
During a February hearing of the Senate Banking, Housing and Urban Affairs Committee, [ND Rep Kevin] Cramer said he is interested in a carbon border mechanism, because it would recognize that "carbon-intensive companies" in the U.S. already operate under higher [?!] environmental standards than foreign competitors. [...]
The EU's actions have ruffled members of Congress, as Christoph Heusgen, chairman of the Munich Security Conference [!], said in March, when he told Vice President Kamala Harris the 2022 [Inflation Reduction Act] has stimulated some irritation in Europe, where some firms see the law as an unfair economic edge. "It has raised a lot of concern on this side of the Atlantic," Huesgen said. "But we have been reminded also by members of Congress about CBAM on our side." [...] The U.S. imported about $468 billion worth of goods to [sic] the EU in 2019, according to Walter, but the new border mechanism would affect a fraction -- about $1.4 billion -- [Third Way international policy dir Lindsey Walter]said. By forcing [!] competition, carbon border mechanisms could be useful in lowering emissions from the industrial sector, a notoriously difficult slice of the economy, both domestically and globally, to de[-]carbonize. "It's incredibly challenging to reduce industrial emissions," Walter said, adding that greenhouse gas emissions from industry are on track to soon [?!] be the largest source of emissions in America, surpassing those from transportation and electricity generation.
By forcing [!] competition, carbon border mechanisms could be useful in lowering emissions from the industrial sector, a notoriously difficult slice of the economy, both domestically and globally, to de[-]carbonize.
"It's incredibly challenging to reduce industrial emissions," Walter said, adding that greenhouse gas emissions from industry are on track to soon [?!] be the largest source of emissions in America, surpassing those from transportation and electricity generation.
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