EU ‘inviting disaster’ by imposing carbon tax on steel, says Piyush Goyal in Berlin
The Union Minister said the EU is “shooting” itself in the foot by bringing in more regulations, restrictions on itself, and closing its borders, something that actually helped them become a developed set of nations.
Union Commerce and Industry Minister Piyush Goyal criticized the European Union’s Carbon Border Adjustment Mechanism (CBAM) and other regulatory restrictions during the Berlin Global Dialogue. Speaking in Berlin, Goyal stated that the EU is "inviting disaster" by imposing additional costs that could raise the cost of living and undermine the competitiveness of its industries.
According to Gulf News, Goyal argued that these regulations could increase the cost of steel, aluminum, and cement, which may negatively impact European infrastructure development, including utilities, highways, airports, and ports. He noted that the EU is adding to the burden on its own industries, making them less competitive in global markets.
The Hindu reports that the minister described the EU as "shooting" itself in the foot by implementing more regulations, restrictions, and border closures, noting that such actions previously helped the region become a set of developed nations.
Brief written by urgent.news from The Hindu, Gulf News — 2 reports on this story. Machine-written — may contain errors; check the original before relying on it.
