Outside voices: How to avoid a carbon-taxing trade war?

Step 1: The World Trade Organization should create “an expert body” to price carbon restrictions, calculating (and periodically updating) the tax equivalent of “domestic carbon restrictions -- be they fees or regulation -- imposed by member companies,” argues Gary Hufbauer, nonresident senior fellow at the Peterson Institute for International Economics, in a new paper. Step 2: WTO members should agree, “when credit is given consistent with the foregoing calculations,” that no member would bring “a case asserting violation of WTO...