China Strikes Back At EU For Carbon Border Tax

The European Union is breaching trade principles with its proposal to impose a so-called carbon border tax that would push up the prices of non-EU products sold in the bloc to account for their carbon footprint. "CBAM is essentially a unilateral measure to extend the climate change issue to the trade sector. It violates WTO principles ... and (will) seriously undermine mutual trust in the global community and the prospects for economic growth," a spokesman for China's Ministry of Ecology and Environment told media today, as quoted by Reuters. The…