European Union Debuts First-Ever Carbon Border Tax

It’s a shame that an interesting mechanism that the BAT is becomes reality using something as vaporous as CO2 as the underlying commodity. That being said, once this mechanism is in place it will find a use for other things and it would be good to use it for countries that egregiously breach certain environmental and labor policy norms. Do we really want to afford countries like China the advantage of using slave labor or should we have a counteracting mechanism? That being said, as a counterweight other taxes should be abolished altogether. I propose direct taxation to get the chop. 

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