After the European Union imposed 20-35% tariffs on steel imports, India filed a complaint with the World Trade Organisation. The duty will be imposed on products that produce a lot of carbon, including iron ore. The implementation of the tax within three years from 2026 is seen as a serious trade barrier for many developing countries as well as India.
The European Union plans to reduce carbon emissions to zero by 2050, and it is rumoured that India plans to impose the tax in order to achieve this goal earlier than the Paris agreement.
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