US Senator Bill Cassidy has introduced the "Foreign Pollution Fee Act," a proposal designed to implement carbon border levies on select imported goods exhibiting higher greenhouse gas (GHG) emission intensity compared to their US-made counterparts. The primary goal is to deter the influx of environmentally detrimental foreign-produced goods.
This fee is envisioned to stimulate the growth of US energy production and various manufacturing sectors while fostering increased international trade collaboration. It seeks to unlock growth opportunities for American manufacturers and enhance the resilience of supply chains.
Additionally, the fee is designed to impose penalties on foreign nations, with China singled out for disregarding environmental standards and international norms in their pursuit of competitive manufacturing advantages. Senator Cassidy highlighted that products originating from China, on average, generate three times the emissions when compared to identical items produced in the United States.
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Vietnam Steel by Hoa Sen Group
