Trade Tensions at UN Climate Conference as Developing Nations Challenge EU's Carbon Border Tax
Developing nations, notably China and India, clashed with richer countries over the inclusion of 'unilateral trade measures', such as the EU's carbon border tax, in the UN climate talks agenda, delaying the conference start. Central to discussions is the need for a new climate finance goal.
- Country:
- India
Tensions surfaced at the UN climate conference as developing countries, led by China and India, contested the inclusion of the EU's carbon border tax in the agenda. The contentious tax, aimed at reducing carbon emissions by levying imports, has stirred disagreement over its economic impact on developing nations.
The climate finance goal remains a pivotal issue at the conference. Host country Azerbaijan urged quick resolutions, while UN climate chief Simon Stiell emphasized the shared interest in a financial solution. However, proceedings stalled as delegates debated the agenda content.
Amid these discussions, a proposal from China highlighted broader concerns about industrial policies in developed countries. Finance Minister Nirmala Sitharaman criticized the tax as 'unilateral and arbitrary', sharing worries about its impact on India's trade economy.
(With inputs from agencies.)
ALSO READ
Surge in Knife Attacks in China Raises Alarm
Underwater Espionage: China's Secret Battle Beneath the Waves
Tensions Rise as U.S. Resists China’s Demands Over Taiwan Language
Zhang Yiming Tops China’s Rich List as Real Estate Billionaires Fall Behind
Brazil's Bold Move: Opting Out of China's Belt and Road Initiative