Germany's Scholz proposes "climate club" to avoid trade friction
- 3 years ago
Germany wants the European Union to create a "climate club" with other countries like the United States, Japan and possibly even China to avoid trade friction linked to green tariffs such as a planned carbon border levy.
German Vice Chancellor and Finance Minister Olaf Scholz said on Saturday after talks with Portugal's Prime Minister Antonio Costa, the current holder of the EU's rotating presidency, that Europe must engage with other countries to agree joint rules and common standards on how to reduce carbon emissions.
Scholz said climate protection measures would have an impact on the competitiveness of German and European companies, especially those in energy-intensive sectors.
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