China's concerns about Europe's CO2 border adjustment

The EU has placed decarbonization at the top of its agenda to fight climate change. To this end, it has put together the "Fit for 55" climate package. One of the main pillars of this package is emissions trading – and the associated Carbon Border Adjustment Mechanism (CBAM). It is still at the planning phase. The EU is wrestling with the details. But one thing is clear: CBAM could hit China particularly hard.