Indian Finance Minister criticizes EU's CBAM, fearing its impact on trade and WTO compliance.

Indian Finance Minister Nirmala Sitharaman criticized the EU's Carbon Border Adjustment Mechanism (CBAM) as unfair and potentially harmful to Indian exports. Set to begin on January 1, 2026, the CBAM will impose tariffs on carbon-intensive imports like steel and cement. Sitharaman expressed concerns about its compatibility with World Trade Organization regulations and its impact on trade, while noting it shouldn't hinder negotiations for a Free Trade Agreement with the EU.

October 09, 2024
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