Thursday, July 09, 2009

U.S. carbon tariffs, still long way off, draw Asia ire


China and India lashed out on Friday at the possibility of tariffs slapped on carbon-intensive exports, even though analysts said proposed U.S. measures were years away and would be hard to implement.

Green protectionism is likely to cause unease at next week's G8 meeting in Italy and separate 17-member Major Economies Forum gathering. It is also a growing concern in U.N. talks that aim to seal a broader climate pact at the end of the year in Copenhagen.

China, the world's top greenhouse gas emitter, said carbon tariffs would violate the rules of the World Trade Organization as well as the spirit of the U.N.'s Kyoto Protocol.

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