Analysis of recent developments and implications of the U.S.carbon border adjustment mechanisms
The Carbon Border Adjustment Mechanism(CBAM)is a unilateral trade policy to be implemented by the European Union in 2023.As China's third largest trading partner,the U.S.has been increasing the number of legislative proposals related to CBAM in recent years,and the successful introduction of carbon tariffs will certainly have a greater impact on China's export trade and economic development with the U.S.This paper comprehensively analyzes the changes in the U.S.attitude towards CBAM and the legislative progress.On the basis of comprehensively sorting out the changes in the U.S.attitude toward CBAM and legislative progress,this paper compares and analyzes the CBAM-related proposals put forward by the two parties in 2023 from five aspects,such as legislative purpose,coverage,calculation method,levy rules,and exemption clauses,etc.,and examines the possible impacts on the U.S.-China trade.The results show that at this stage,the U.S.version of CBAM will bring more challenges to China's aluminum,cement,glass,steel and other industries to enter the U.S.market,but the overall impact is controllable.It is recommended that in the short term,closely track the U.S.election and do a good job of policy research and judgment;in the medium and long term,improve the policy system and enhance the industry's green and low-carbon development.
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