Market analysts believe that the global carbon market's development, particularly the EU's Carbon Border Adjustment Mechanism (CBAM), will significantly impact international trade in low-value-added products.
The EU is set to fully implement CBAM by 2034, requiring importers to declare carbon emissions annually. This move poses challenges for countries in Southeast Asia, as their carbon reduction goals don't align with the EU's targets.
Once CBAM is active, it's expected to increase costs for steel imported from China to the EU by 10-15%.
Additionally, Southeast Asian nations exporting to the EU might face higher prices if they can't meet the EU's emission requirements. This situation could affect countries like Vietnam, Indonesia, and India while enhancing competitiveness for EU-based producers in the regional market.
Source: YIEH
|
