Biden Admin To Consider Carbon Border Tax As Part Of Trade Agenda: USTR

"WASHINGTON - The Biden administration said on Monday it would consider carbon border adjustment taxes to help cut greenhouse gas emissions in global trade and to combat China’s use of forced labor among Uighur Muslims in its western Xinjiang region.

Releasing a new administration trade agenda here, the U.S. Trade Representative's office said the carbon border adjustment, which consists of import fees levied by carbon-taxing countries on goods manufactured in non-carbon-taxing countries, would be considered as part of an effort to explore and develop market and regulatory approaches to reduce greenhouse gas emissions.

The broad set of trade priorities also includes committing to initiating and advancing factory-level labor enforcement actions under the U.S.-Mexico-Canada trade agreement."

David Lawder reports for Reuters March 1, 2021.

Source: Reuters, 03/02/2021