India-UK FTA skips carbon tax
New Delhi, July 26 -- India has an option to retaliate any move of the United Kingdom to impose carbon tax on Indian imports in future with proportionate "rebalancing" tariffs on British goods, people in the know said, justifying absence of it in the recently concluded free trade agreement because the British law on this matter is still not enacted.
The India-UK free trade agreement, signed on Thursday, does not mention about the proposed British move to implement the Carbon Border Adjustment Mechanism (CBAM) from 2027 because it is still an intent with no legal basis, they said requesting anonymity.
India and the UK on Thursday signed the comprehensive economic and trade agreement (CETA) that aims to double trade between the two countries ...
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