India Prefers Negotiating With EU on Carbon Tax to WTO Complaint
- Officials see bilateral talks as a faster way to a solution
- EU’s carbon border mechanism to kick off from October
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India is hoping to engage directly with the European Union for leeway on its proposed carbon tax instead of adjudicating the issue through the World Trade Organization, according to people familiar with the matter.
A major exporter of steel and aluminum, India is seeking exemptions that would protect its small manufacturers from levies imposed by the Carbon Border Adjustment Mechanism, or CBAM, which will tax some imports from countries that don’t fix carbon pricing the way Europe does.