The EU's Carbon Border Adjustment Mechanism Is Not a Response to What the US Is Doing With Inflation Reduction

The EU is responding with its own proposals for a quote unquote green tariff on imports. They're calling it a carbon border adjustment mechanism. It's a policy that they're using to try and help them get to net zero. Many countries are taking different approaches, the EU is taking one approach. Others are doing other approaches. The US is using regulations. If you quantify that, they all come to a price. But our problem is that the systems are too fragmented. Right now, we have 70 fragmented different systems of pricing carbon.