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Retaliation for Europe's carbon tax on airlines
Posted By -NO AUTHOR- On 02/17/2012 @ 6:13 pm In Money | No Comments
(NEW YORK TIMES) — China, the United States and two dozen other countries are looking at coordinated retaliation — including measures to squeeze European airlines and other industries — if Europe tries to enforce a new law requiring airlines to pay for their greenhouse gas emissions.
China has banned its airlines, such as China Eastern, from paying the European tax.
The system, the European Union’s boldest initiative on climate protection to date, has provoked a worldwide outcry and raised the unwelcome prospect of a full-scale trade war. European officials have stood firm while challenging opponents to suggest an equally effective alternative.
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