Incoming US Secretary of the Treasury, Janet Yellen, a firm believer in restraining carbon emissions, has been working with the Republican-Democrat group, the Climate Leadership Council, on means of implementing such policies. She has suggested countries that introduced carbon adjustment fees could form “carbon customs unions” compliant with World Trade Organization rules. This is similar to EU thinking under which countries will be able to avoid punitive carbon tariffs only if their climate policies match that of Europe.
Will Australia face carbon tariffs under the Biden regime? | Spectator Australia