{"id":146130,"date":"2021-11-11T20:43:26","date_gmt":"2021-11-11T15:13:26","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=146130"},"modified":"2021-11-16T11:27:58","modified_gmt":"2021-11-16T05:57:58","slug":"carbon-tariffs-on-12th-ministerial-of-wto","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/carbon-tariffs-on-12th-ministerial-of-wto\/","title":{"rendered":"Carbon tariffs: On 12th Ministerial of WTO"},"content":{"rendered":"\n

News<\/strong>: India must follow a constructive approach while negotiating trade rules in the upcoming WTO summit.<\/p>\n

A range of issues will be discussed in the upcoming 12th Ministerial Conference of the WTO at Geneva such as fishing subsidies, progress on pandemic-related intellectual property issues, broader questions about WTO reform, including fixing the broken dispute settlement system etc.<\/p>\n

India is being seen as a barrier in addressing many of these questions. The inflexible attitude<\/strong> of India\u2019s trade negotiators can cost India.<\/p>\n

Why India’s attitude at the upcoming WTO ministerial needs to be constructive?<\/strong><\/h5>\n

It helps India to act in the broader public interest<\/strong>.<\/em> Consider this example: India alongside other developing economies has opposed the incorporation of labour or environmental standards into multilateral trading rules.<\/p>\n

This was for good reasons,<\/p>\n

– One, as these could translate into protectionism by rich nations<\/strong> with higher such standards.<\/p>\n

– Two, lowering tariffs on crucial environmental goods such as, say, solar panels to zero may well not be in India\u2019s interests<\/strong> and those of other emerging economies.<\/p>\n

But, sustainability has also a broader role to play in the trading architecture in the current age of climate crisis. Hence India’s attitude at the WTO needs to be accommodative.<\/p>\n

Secondly, India needs to be a part of the process<\/em><\/strong>: If India is not in the room where crucial trade policy decisions are being made, they will be made without India\u2019s interests in mind.<\/p>\n

Consider the question of \u201cborder adjustment\u201d mechanisms, which essentially put a tax on the implicit carbon emissions in imports.<\/p>\n

The European Union has already moved towards imposing such a tax<\/a><\/strong><\/span>, which may become a reality whatever India\u2019s position at the WTO would be.<\/p>\n

Other markets will inevitably follow, and India will be left out in the cold. This would obviously be against India’s interests.<\/p>\n

What is the way forward?<\/strong><\/h5>\n

India\u2019s negotiators need to be well-informed with facts and figures regarding the structure of fuel taxes in India and the implicit price of carbon this implies.<\/p>\n

They should also present positive and constructive suggestions about how such national taxation can fit into a broader trans-national carbon pricing scheme.<\/p>\n

Source<\/strong>: This post is based on the article \u201cCarbon tariffs<\/strong>\u201d published in the ToI<\/strong> on 11th November 2021.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

News: India must follow a constructive approach while negotiating trade rules in the upcoming WTO summit. A range of issues will be discussed in the upcoming 12th Ministerial Conference of the WTO at Geneva such as fishing subsidies, progress on pandemic-related intellectual property issues, broader questions about WTO reform, including fixing the broken dispute settlement… Continue reading Carbon tariffs: On 12th Ministerial of WTO<\/span><\/a><\/p>\n","protected":false},"author":10316,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1230,9],"tags":[9286,10447,9946,212],"class_list":["post-146130","post","type-post","status-publish","format-standard","hentry","category-9-pm-daily-articles","category-public","tag-carbon-emission","tag-carbon-tariff","tag-cliamte-change","tag-gs-paper-2","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704944923},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/146130","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10316"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=146130"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/146130\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=146130"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=146130"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=146130"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}