EU Toughens Carbon Border Tax Ahead of January Rollout (1)

The European Union is toughening its landmark carbon border levy — a measure that has angered both the US and China — by expanding it to more manufactured goods and rolling out fresh support for EU exporters.

The European Commission on Wednesday proposed extending the Carbon Border Adjustment Mechanism to also cover assembled products, including car parts and washing machines. That will close loopholes that could allow companies to circumvent the charge.

“CBAM truly is a very good idea, but it’s also like a good cheese with some holes in it,” Wopke Hoekstra, the EU’s climate commissioner, said at ...