The European Union is set to expand its so-called carbon border tax to cover a wider range of imported products, from household appliances such as refrigerators and washing machines to automobile parts.
According to plans unveiled on Dec. 16, the EU will add additional steel- and aluminum-based products to the scope of its Carbon Border Adjustment Mechanism (CBAM), which is essentially a tariff levied on selected imported goods based on the greenhouse gases emitted during their production.
