Posted on 09 Aug 2023
The United States Senate introduced the draft of the Clean Competition Act (CCA) for the US carbon tariffs in June 2022. The US will begin to impose carbon tariffs in 2024 if the Act is approved. The objects of the levy include products manufactured in the US and imported from other countries, covering industries such as steel and aluminum.
The legislative purpose of the US CCA is similar to the EU's Carbon Border Adjustment Mechanism (CBAM), but there is no trial period and the calculation of carbon tax is different from CBAM.
The US is one of the largest markets for Taiwan's exports. Taiwanese export manufacturers should well prepare to respond to the US carbon tax policy.
Source:Yieh
