Trade

→ Geoeconomic tensions have spurred diversification strategies such as China+1, nearshoring, and friendshoring, reshaping value chains to reduce concentration risks in China. → Although Chinese exports are rerouted through third countries (Mexico, Vietnam), recent U.S. “Liberation Day” tariffs curb these tactics, yet six in ten companies have already altered their logistics routes in 2025. → […]

→ Both the U.S. and EU have shifted toward protectionist policies and industrial subsidies (Infrastructure Investment and Jobs Act, CHIPS Act, IRA; European Chips Act, MRR), reversing the era of tariff openness and raising regulatory uncertainty. → Discretionary tariff exemptions and the unpredictability of new trade barriers complicate business planning, raise capital costs, and disrupt […]

Energy-intensive sectors in the European Union pay for the environmental costs of their activities through an emissions allowance market, where each tonne of CO2 emitted has a specific price. To prevent these additional costs from putting European industry at a disadvantage compared with imports from third countries, a free quota was previously allocated to the […]

World trade must add to its prices the environmental costs of CO2 emissions associated with the production of goods. To this end, the European Parliament has just voted in favor of a Carbon Border Adjustment Mechanism (CBAM) to tax imported products according to their emissions, subjecting them to the same price as European goods that already pay for them in an internal market for emission allowances.

The European Union is working to establish a carbon border adjustment mechanism (CBAM), so that imported products pay the same price as that now paid by European producers through the existing emission rights trading system (EU ETS). The objective is to level the playing field between local producers and foreign producers that export to the […]

In one sentence: the initial report by Mohammed Chahim (European Parliament) to the Commission’s proposal to price importers’ emissions features some interesting developments but will face numerous political bottlenecks and, above all, does not tackle the fundamental problems of the EU Executive’s proposal.  On the eve of Epiphany, we received the gift of the draft report sent by Mohammed Chahim, MEP, to the […]

The European Commission proposed last July a Carbon Border Adjustment Mechanism (CBAM) devoted to tax imported products based on their carbon content, hence subjecting them to the same carbon price as European products and reducing the risk of leakage.

On July 14, the European Commission published one of its most eagerly awaited legislative proposals: a new regulation establishing a carbon border adjustment mechanism (CBAM).