Canada finding 'solutions' on EU carbon tariff threat: Carney

Source: CBC Politics
Date: 2026-10-30 21:41:25.0
Tags: [National, Trade, Economy, Environment, Climate, Industry]

Prime Minister Mark Carney announced progress at the Canada-EU summit in Montreal regarding the European Union's pending carbon border adjustment mechanism (CBAM), which threatens an estimated $2.8 billion in annual Canadian energy-intensive exports like iron ore, steel, aluminum, and cement. Canada's ambassador-designate to the EU, Jonathan Wilkinson, confirmed that diplomatic negotiations are advancing toward having the European Union officially recognize Canada's national and industrial carbon pricing systems. Full implementation of the EU tariff is scheduled for 2034, with compliance reporting requirements slated to take effect by September or October 2027.