"Senators propose carbon border tax to hold global climate laggards accountable"

Senators Christopher A. Coons and Kevin Cramer will introduce a bipartisan bill that would lay the groundwork for America's first carbon border tax, which would impose fees on iron, steel, and other imports from countries that are not significantly reducing greenhouse gas emissions. The bill would require the Energy Department to study the emissions intensity of certain products produced in the United States and in certain countries. The goal is to use trade to advance American manufacturing and disadvantage dirty or high-emissions products, ultimately putting effective pressure on China, Russia, and India to dramatically reduce their emissions.