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Reuters
Reuters
Business
By Kate Abnett

EU strikes deal on world-first carbon border tariff

FILE PHOTO: Smoke and steam billow from Belchatow Power Station, Europe's largest coal-fired power plant, near Belchatow, Poland. Picture taken November 28, 2018. REUTERS/Kacper Pempel/File Photo

After all-night negotiations, the European Union struck a political deal on Tuesday to impose a carbon dioxide emissions tariff on imports of polluting goods such as steel and cement, a world-first scheme aiming to support European industries as they decarbonise.

Negotiators from EU countries and the European Parliament reached a deal at around 5am in Brussels, on the law to impose CO2 emissions costs on imports of iron and steel, cement, fertilisers, aluminium and electricity.

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