• About   |
  • Submit Guest Post |
  • Contact Us
No Result
View All Result
The Second Angle (TSA Magazine)
Advertise
  • Infotainment
    • Sports
    • People
    • Inspiring
  • Entertainment
    • Lifestyle
    • Home & Decoration
  • Buzz
  • Education
  • Travel
  • Finance
  • Healthcare
  • Technology
The Second Angle
No Result
View All Result
  • Infotainment
  • Entertainment
  • Buzz
  • Education
  • Travel
  • Finance
  • Healthcare
  • Technology
Advertisement
ADVERTISEMENT
Home World News

India, E.U. Discuss E.U. Carbon Border Tax in Brussels

TSA Desk by TSA Desk
May 17, 2023
in World News
Reading Time: 3 mins read
India, E.U. Discuss E.U. Carbon Border Tax in Brussels
Share on FacebookShare on WhatsApp
Advertisement Advertisement Advertisement
ADVERTISEMENT

RelatedPosts

At least 25 killed in rebel attack on Ugandan school near Congo border

At least 25 killed in rebel attack on Ugandan school near Congo border

Chinese president Xi Jinping stresses U.S.-China cooperation in meeting with Bill Gates

Chinese president Xi Jinping stresses U.S.-China cooperation in meeting with Bill Gates


Commerce Minister Piyush Goyal, External Affairs Minister S Jaishankar and Minister of State for Skill Development and Entrepreneurship to Brussels at 1st India-E.U. Trade and Technology Council meeting in Brussels. Photo: Twitter/@DrSJaishankar

Commerce Minister Piyush Goyal, External Affairs Minister S Jaishankar and Minister of State for Skill Development and Entrepreneurship to Brussels at 1st India-E.U. Trade and Technology Council meeting in Brussels. Photo: Twitter/@DrSJaishankar

India and the E.U. are working to resolve a looming issue in their trade relationship — the E.U.’s Carbon Border Adjustment Mechanism (CBAM), with the two sides discussing it during a Minister-level meeting in Brussels on May 15 (Monday) and May 16 (Tuesday). The E.U. is India’s second-largest trading partner (after the U.S.) and India’s second-largest export market.

The E.U. describes the Carbon Border Adjustment Mechanism (CBAM) as a “landmark tool” which places a “fair price” on carbon emitted during the production of goods that are entering the E.U. and a mechanism to “encourage cleaner industrial “production outside the E.U.

The CBAM regulations came into effect on May 16 and will begin their transitional phase of implementation on October 1, 2023. The tax was discussed during a visit by Commerce Minister Piyush Goyal, External Affairs Minister S Jaishankar and Minister of State for Skill Development and Entrepreneurship to Brussels for bilateral meetings and the first edition of the E.U.-India Trade and Technology Council (TTC).

The joint statement from the TTC said the two parties would “intensify their engagement to address the issues that emerge in implementation” of the CBAM.

Following the meeting, the Ministers on May 16 evening, Mr. Goyal said the two sides “remain engaged” and are discussing the issue.

“And we have a long time ahead of us within which we’ll be working together to find the right solutions to this,” he said, during a press conference of the ministers and their E.U. counterparts — EU Competition Commissioner Margrethe Vestager and Trade Commissioner Valdis Dombrovskis.

“I am sure the intention is not to create a barrier to trade,” Mr. Goyal said, emphasizing that the measure was about sustainability.

The Europeans insisted that the mechanism did not run afoul of WTO rules.

”…We were of course very careful to ensure WTO compatibility of the initiative. And a key word for this is ‘non-discrimination’. So we apply the same price of carbon to imported goods that we are going to apply also on our domestic producers,” Mr. Dombrovskis said.

Table of Contents
  • Trade and Technology Council Meet Announces Semiconductor MoU

Trade and Technology Council Meet Announces Semiconductor MoU

This week’s first meeting of the TTC was conducted across three working groups: Strategic Technologies, Digital Governance and Digital Connectivity; Green and Clean Energy Technologies; and Trade, Investment and Resilient Value Chains .

A joint statement from the two sides listed progress made and said that an MoU on semiconductors would be concluded by September 2023. Mr. Goyal said that the TTC would supplement trade deal talks between India and the EU and that it would help make the relationship “the defining partnership of the 21 st Century”. The Working Group on trade discussed resilient value chains, market access issues, screening of FDI and multilateral trade issues.

The TTC was launched in early 2022 by Prime Minister Narendra Modi and European Commission President Ursula von der Leyen. The EU has a similar platform with the U.S., the only other country, apart from India, with which it shares such a forum.


ADVERTISEMENT
ShareSendTweet

Related Posts

At least 25 killed in rebel attack on Ugandan school near Congo border
World News

At least 25 killed in rebel attack on Ugandan school near Congo border

The Allied Democratic Forces, or ADF, is accused of launching many attacks on civilians in recent years, notably on civilian...

Read more
Chinese president Xi Jinping stresses U.S.-China cooperation in meeting with Bill Gates
World News

Chinese president Xi Jinping stresses U.S.-China cooperation in meeting with Bill Gates

In this photo released by China’s Xinhua News Agency, Bill Gates, left, meets with Chinese President Xi Jinping in Beijing,...

Read more
U.S. guided-missile submarine arrives in South Korea amid North Korea’s missile tests
World News

U.S. guided-missile submarine arrives in South Korea amid North Korea’s missile tests

The nuclear-powered submarine USS Michigan approaches a naval base in Busan, South Korea | Photo Credit: AP The United States...

Read more
Morning Digest | Heavy rains pound Gujarat coast as cyclone Biparjoy makes landfall; South Manipur cut off as women-led vigilante groups block roads, and more
World News

Morning Digest | Heavy rains pound Gujarat coast as cyclone Biparjoy makes landfall; South Manipur cut off as women-led vigilante groups block roads, and more

Policemen stand guard on the Arabian Sea coast ahead of cyclone Biparjoy’s landfall at Mandvi in Kutch district of Gujarat...

Read more
Chinese Premier meets with Palestinian President in effort to increase Middle East presence
World News

Chinese Premier meets with Palestinian President in effort to increase Middle East presence

Chinese Premier Li Qiang (right) receives Palestinian President Mahmud Abbas at the Great Hall of the People in Beijing on...

Read more
Ukraine reports advances in early stages of counterattack
World News

Ukraine reports advances in early stages of counterattack

A tank from Ukraine’s 3rd Independent Tank Iron Brigade is seen at a position near the front line in Kharkiv...

Read more
Load More

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

About

The Second Angle

The Second Angle (TSA) Magazine covers a broad spectrum of topics including Entertainment, Lifestyle, education, Crypto, iGaming, Technology, fashion, beauty, relationships, celebrities, wellness, travel, and food. It also features user-generated content in the form of tips, guest post, forums, polls, contests and other interactive articles.

Important Links

  • About
  • Guest Post
  • Privacy Policy
  • Terms
  • Contact Us
  • Newsletter
ADVERTISEMENT

© 2017-23. The Second Angle. All Rights Reserved. Developed and Managed by SquareBase.io

No Result
View All Result
  • Infotainment
    • Sports
    • People
    • Inspiring
  • Entertainment
    • Lifestyle
    • Home & Decoration
  • Buzz
  • Education
  • Travel
  • Finance
  • Healthcare
  • Technology

© 2017-23. The Second Angle. All Rights Reserved. Developed and Managed by SquareBase.io

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.