Daimler, Deere could face Trump-baiting EU carbon border tax

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The European Union’s carbon border tax (CBT) plans may initially focus on cement, power and steel though it is “still struggling in finding a way to such a mechanism in a WTO compatible manner”, according to EC Deputy Director General Klaus-Dieter Borchardt. The implementation of a CBT is one possible trigger for a trade war with the U.S. in the event of a second Trump administration after the elections. By contrast it could be a point of consensus if former Vice President Biden wins. The U.S. only accounted for 2.9% of EU steel imports in the 12 months to June 30, while the EU represent...

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