‘You’re inviting disaster’: Piyush Goyal slams EU carbon tax on steel
Speaking at the Berlin Global Dialogue, the minister cautioned that rising material costs and regulatory burdens could undermine Europe’s economic competitiveness.
Union Commerce and Industry Minister Piyush Goyal recently criticized the European Union's carbon tax on steel, warning that it could lead to a "disaster" for the bloc and its industries. Speaking at the Berlin Global Dialogue, Goyal stated that the EU's Carbon Border Adjustment Mechanism (CBAM) and other regulatory restrictions could raise the cost of living and undermine the competitiveness of European businesses and consumers.
He argued that additional costs imposed by the CBAM and other regulations could make European industries less competitive in global markets, potentially leading to more reciprocal measures from trading partners and further hurting European businesses.
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