Europe's Plan to Introduce a Carbon Border Tax
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Last month, Senator Cynthia Lummis of Wyoming voted in favor of the Providing Reliable, Objective, Verifiable Emissions Intensity and Transparency (PROVE IT) Act, despite opposition from groups advocating for unfettered trade with China. The PROVE IT Act aims to generate data that demonstrates the environmental benefits of increasing domestic manufacturing and resource extraction in the United States. It seeks to protect American jobs by discouraging offshoring and preventing the imposition of carbon taxes on U.S. exports. The Act also has the potential to weaken arguments used by environmentalists to block investments that promote national interests and to support the permitting of new infrastructure projects. Senator Lummis believes that the Act's data would be valuable in holding foreig...
#newstr #CarbonBorderTax #Trade #ProductionMethods #Eu #EnvironmentalRegulations #SustainableProduction