The European Union is poised to implement a revolutionary system for addressing carbon emissions which aims to sharply curtail greenhouse gases in the EU while leveling the playing field with their less environmentally ambitious trading partners. The EU may not possess an intimidating military but when it comes to regulatory clout, the union is a superpower. Rules drawn up in Brussels affect producers of goods and services in every corner of the world. Exporters to the EU are impacted by regulations developed thousands of miles away. Senior EU officials are about to put the finishing touches on the so-called Carbon Border Adjustment Measure program (CBAM), which was proposed by the
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