India expresses serious concerns in WTO meet over unilateral protectionist measures
The Hindu
India expresses concerns over trade protectionism in WTO meeting, highlighting issues with EU carbon tax and deforestation regulation.
India on February 26 expressed "serious" concerns in a WTO meeting in Abu Dhabi over increase in the use of trade protectionist measures by certain countries in the name of environment protection.
The remarks assume significance as the country has earlier flagged issues over the European Union's (EU) decision to impose carbon tax (a kind of import tax) on sectors such as steel and fertiliser; and adoption of deforestation regulation by the 27-nation bloc.
Speaking at a session on sustainable development and policy space for industrialisation, Commerce Secretary Sunil Barthwal said developing countries require flexibility in the existing WTO (World Trade Organization) agreements to overcome the constraints faced by them in their industrialisation.
He also expressed concerns on the concerted attempt by the developed countries to club long-standing development issues like policy space for industrial development with new issues of 'Trade and Industrial policy'.
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The CBAM will translate into a 20-35% tax on select imports into the EU starting January 1, 2026.
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