U.S., EU Want to Cut Cleantech Tariffs
In an effort to bring Beijing into a global climate deal ahead of the Copenhagen meeting in December, the European Union and the United States are in talks to form a pact with OECD countries and China to eliminate duties on green goods, reports Reuters.
EU diplomats told Reuters that under the plan, the 30 nations in the Organization for Economic Cooperation and Development (OECD) and China would agree to a global pact to phase out import tariffs on goods such as wind turbines, renewables and green technologies. However, it’s unlikely to include hybrid cars, reports Reuters.
A diplomat told Reuters the deal could save Chinese exporters billions of euros and dollars and could form a large part of the overall package offered to Beijing to cut emissions.
Jake Colvin, vice president for global trade policy at the National Foreign Trade Council, a U.S. business group, told Reuters this is a chance to jumpstart U.S. trade policy while helping global climate negotiations.
China has been under pressure from Europe and the United States to cut its carbon dioxide (CO2) emissions as part of negotiations on a new global climate treaty, but in return, Beijing wants financial support from the EU and the United States to help it harness new greener technologies to drive its export-driven economy, reports Reuters.
India and Brazil are unlikely to take part in the initiative, reports Reuters.
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