CBAM! The EU proposes phasing out free permits from its emissions trading system and phasing in a carbon tax on some imports. Susanne Dröge (German Institute for International and Security Affairs) joins to explain the July 14 proposal, the economic incentives facing European producers and foreign exporters of steel, aluminum, cement and fertilizers, the potential WTO and international response, and what comes next (43:45).

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• Soumaya Keynes. 2021. The EU proposes a carbon tariff on some imports. The Economist, July 17.