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To revive Mfg., bank proposes carbon tax on Chinese imports.
- Article from:
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Manufacturing & Technology News
- Article date:
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June 30, 2008
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Copyright informationCOPYRIGHT 2008 Publishers & Producers. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Imposing a carbon tax on Chinese imports would lead to a resurgence of the U.S. manufacturing industry, according to a report from Canada's largest banking firm, CIBC World Markets. A carbon tariff on imported goods, "may be the only way developed nations will be able to achieve real cuts in global greenhouse gases," says the firm.
The United States and other developed nations are rejecting carbon reduction programs because China and India would be exempt, providing their companies with an unfair advantage.
"As OECD countries begin to tax their own economies by charging growing fees on [CO.sub.2] emissions, their tolerance of the carbon practices of its trading ...
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