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EU launches transitional phase of CBAM, world's first carbon tariff

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The European Union launched on October 1 the first phase of the world's first system to impose CO2 emissions tariffs on imported steel, cement, and other goods as it tries to stop more polluting foreign products from impeding its green transition.

The carbon tariff has caused disquiet among trading partners and at a forum last month, China's climate envoy XieZhenhu a urged countries not to apply unilateral measures such as the EU levy.

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