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The UK government recently announced that it will implement a new import carbon tax mechanism before 2027, imposing additional taxes on imported goods from countries with lower carbon tax prices or without carbon taxes, to ensure that imported goods are equivalent to carbon taxes on products produced in the UK JAC340P steel.
The targets of this carbon tax mainly include carbon intensive products such as steel, aluminum, fertilizers, hydrogen, ceramics, glass, and cement.
The UK Chancellor of the Exchequer, Jeremy Hunter, stated that this tax will ensure that carbon intensive products from overseas are priced similarly to UK products, so that our decarbonization efforts can ultimately drive global emissions reduction JAC340P steel.
This move is seen as a response from the UK government to the EU's introduction of a carbon border adjustment mechanism. On October 1st of this year, the EU's carbon border adjustment mechanism was officially launched and entered a transitional phase. Until 2026, the EU will begin to impose carbon taxes on products such as cement, steel, aluminum, fertilizers, electricity, and hydrogen imported into the EU JAC340P steel.
