Letzte Aktualisierung: July 15, 2021

Chinese dumping steel under fire

The EU is getting serious about the Green Deal. The CO2 border adjustment and the expansion of emissions trading, both part of the "Fit for 55" package, are intended to help achieve Brussels' climate goals. Above all, the border adjustment for CO2 emissions will have consequences for the People's Republic of China. Critics from the European metal and aluminium industry are already certain: the People's Republic will find a way around the border adjustment.

It has been a long time since the stage in the press room of the EU Commission in Brussels was so full and so high-calibre: six EU Commissioners and Commission President Ursula von der Leyen jointly presented the "Fit for 55" climate package on Wednesday. But there is also a lot at stake. The package of energy and climate laws aims to achieve the EU climate targets of 2030 (minus 55 percent emissions compared to 1990) and 2050 (climate neutrality). The package of twelve legislative initiatives also includes the reform of the EU Emissions Trading Scheme (ETS) with an extension to shipping and the establishment of a CO2 border adjustment. The latter in particular could still cause resentment in international trade.
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