Use Climate and Trade Policy to Counter Putin’s Playbook

Joint U.S.-EU carbon border fees could be much more damaging to Russia than sanctions.

Foreign Policy

We have an opportunity to counter Putin’s playbook with a bold initiative consistent with European priorities: a transatlantic climate and trade initiative that would cut global greenhouse gas emissions, increase energy security, and reduce Russia’s power to coerce Europe. One aspect of that initiative could be a joint trade mechanism between the United States and the European Union that levels a common carbon fee on imported goods. This would not only encourage the domestic production of goods and energy, but also demonstrate a model of clean and efficient production for other nations to emulate.

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