European Commission: Carbon border adjustment tax will be WTO-compliant

The European Commission on Wednesday released its proposal for a carbon border adjustment tax -- the world’s first -- and insisted the plan will be compatible with World Trade Organization rules. The proposal came the same day Senate Democrats revealed they were planning to include a carbon border tax as part of a developing $3.5 trillion budget plan, according to reports from Bloomberg and The New York Times . The Office of the U.S. Trade Representative, in its annual report...