'Carbon tariffs would hurt trade, drive up prices, and lead to ever-increasing regulation and taxes, yet do little to address environmental concerns. All pain, no gain.' -Ryan Young & Daren Bakst
to lay the groundwork for a U.S. carbon tariff by standardizing carbon emission measurements to help levy taxes.
In return for little to no benefit, there are plenty of costs. Carbon tariffs could derail future trade agreements the U.S. may negotiate with the United Kingdom, EU, Pacific Rim countries, and other allies. They would make these agreements more complex, add more negotiation failure points, give other countries a major say in America’s domestic policies, and incentivize special interests to game agreements for their own advantage.
It’s also naive to believe carbon tariffs, in practice, would actually be about the environment. Countries would game tariffs to their own advantage and could easily do so because of the sheer complexity and likely impossibility of developing a system that properly accounts for global production and supply chains.
If the carbon tariff infighting ever gets resolved, other countries would gain significant input into U.S. lawmaking by using tariffs to trigger changes to American domestic policy. This would likely lead to massive new regulations or taxes — otherwise, carbon tariffs would be imposed against U.S. imports.
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