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Carbon import tax could add millions to import bills, says broker

UK importers of carbon-intensive goods could face millions of pounds of extra costs from 2027 under the Government’s forthcoming Carbon Border Adjustment Mechanism (CBAM), according to analysis by Armagh, Northern Ireland-based customs and compliance specialist, Allied Group. The policy, designed to ensure imported goods face a carbon cost equivalent to that paid by UK producers under the UK Emissions Trading Scheme, will initially apply to imported iron and steel, aluminium, cement, ... [+]