Saturday, December 06, 2003
Kyoto Tax?
I came across this interesting idea floated by the British think-tank, New Economics Foundation -- countries refusing to cut their emissions of greenhouse gases should face trade sanctions.
The New Economics Foundation wants the EU to tax imports from these countries because they enjoy a competitive disadvantage as energy costs increase. Signed-up countries are currently meeting in Italy to discuss the treaty. New Economics Foundation spokesman Andrew Simms told BBC Radio 4's Today programme EU countries would be within their rights to "work out the cost of the free ride America is getting" and raise that amount. "There are very few signals the United States understands - they do understand economic signals," Mr Simms added.
Interesting idea, though I have to wonder whether the EU (or the 55 signatories) can apply these sanctions on the U.S., China, India, Russia etc -- the giant non-compliers -- and hope to get away without getting slammed by retaliatory sanctions.
The New Economics Foundation wants the EU to tax imports from these countries because they enjoy a competitive disadvantage as energy costs increase. Signed-up countries are currently meeting in Italy to discuss the treaty. New Economics Foundation spokesman Andrew Simms told BBC Radio 4's Today programme EU countries would be within their rights to "work out the cost of the free ride America is getting" and raise that amount. "There are very few signals the United States understands - they do understand economic signals," Mr Simms added.
Interesting idea, though I have to wonder whether the EU (or the 55 signatories) can apply these sanctions on the U.S., China, India, Russia etc -- the giant non-compliers -- and hope to get away without getting slammed by retaliatory sanctions.
