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ArcelorMittal, JSW Steel face risks from U.S., EU carbon border tariff initiatives

Brazil 378 Canada 469 China 2894 ESG 59 Energy - Conventional 432 India 466 Materials - Metals/Mining 708 Metals - Aluminum 227 Metals - Steel 480 Taiwan 188 Tariffs 1768 U.S. 5193

The recent introduction by the EU of a Carbon Border Adjustment Mechanism – effectively a tariff on imports from countries with higher carbon emission intensities or lower carbon prices – is drawing responses from other countries. In the U.S. Senator Chris Coons and Representative Scott Peters have introduced legislation that includes a “Border Carbon Adjustment” mechanism (BCA) which will be different to the EU’s CBAM but could have a similar effect. Initially the BCA would cover steel, aluminum, cement and energy products and would behave much like an import tariff. While unlikely to p...

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