EU strikes deal on world-first carbon border tariff

BRUSSELS, Dec 13 (Reuters) - After all-night negotiations, the European Union struck a political deal on Tuesday to impose a carbon dioxide emissions tariff on imports of polluting goods such as steel and cement, a world-first scheme aiming to support European industries as they decarbonise.

"It is one of the only mechanisms we have to incentivise our trading partners to decarbonise their manufacturing industry," Chahim said.The aim of the levy is to prevent European industry from being undercut by cheaper goods made in countries with weaker environmental rules"

Music to my ears. Soon dirty steel made from low grade hematite/blast furnace is going to cost the same as high grade ore. How satisfying.