Answer: European Union (EU)
Notes: The European Union has started implementing the Carbon Border Adjustment Mechanism (CBAM), affecting steel and aluminium exporters. This adds pressure on Indian metal exporters already facing a 50% duty on exports to the United States. Carbon Border Adjustment Mechanism (CBAM) was introduced by the European Union. It is an import duty on goods produced outside Europe, based on carbon emissions during production. CBAM targets products made using carbon-intensive processes compared to EU climate standards. CBAM is in a transitional phase from 2023 to 2025 and will be fully implemented in 2026. It currently covers steel, aluminium, cement, electricity, fertilisers and selected other products.
