The Economic Times

EU Parliament votes to scrap carbon border tax's emergency brake, setting up clash with member states

European Union lawmakers voted to remove a clause allowing suspension of the carbon border levy. This move sets up a disagreement with EU member states who want an emergency brake. The carbon border levy imposes CO2 emissions fees on certain imported goods. Lawmakers propose using collected revenue to compensate industries if costs increase. Negotiations will now occur to finalize the rules for the border fee.