The Economic and Trade Impact of the EU Carbon Tax on China and Countermeasures
The imposition of a carbon tax in China is of great significance for Chinese response to the EU carbon tariff and promotion of industrial green transformation.Based on the input-output method,the paper calculates the implicit carbon emission intensity and uses the GTAP model to study the economic and trade impact of the EU carbon tariff on China and the implementation effect of carbon tax in response to the EU carbon tariff.The results indicate that in the absence of a domestic carbon tax in China,the higher the EU carbon tariff rate and the broader the tax coverage,the more significant the economic and trade impact on China.This is conducive to low-carbon transformation;after China imposes carbon tax,from an economic perspective,the negative impact on economic and trade in the short term is relatively small when the carbon tax rate is 10 dollars per ton and the tax coverage is the industries covered by the CBAM.From the perspective of low-carbon transformation,the carbon tax rate of 30 dollars per ton and taxing only the industries covered by the CBAM are more conducive to low-carbon transformation.From the overall perspective,the imposition of a 10 dollars per ton carbon tax on the industries covered by the CBAM is more conducive to countering the threat of the EU carbon tariff.