EU CBAM highlights need for US climate strategy

After months of negotiation, the EU has reached a provisional agreement on the Carbon Border Adjustment Mechanism (CBAM). Starting in October 2023, EU imports of steel, aluminum, fertilizers, and more will face requirements at the border to report their carbon intensity; fees will soon follow. It's the first major step by a set of climate-ambitious countries to create an economic signal for global emissions reductions. Many in the U.S. are scratching their heads. Some are wary. How does the CBAM affect domestic manufacturers? What does this mean for the world order on climate? Regardless of how you feel, the CBAM…