As of right now, Germany is falling short of its European climate targets and will have to pay for access to produce and emit greenhouse gases due to the nations polluting farms, factories, and vehicles. This comes after Chancellor Angela Merkel, a longtime proponent of reducing emissions. delivered the news. As a result, Germany will now have to purchase greenhouse gas emissions allowances for the following two years from other European Union members.
“Germany has been on the forefront of industrial production in Europe for many years. However, every nation must choose a proper balance of economic growth that will not cause substantial, irreversible damage to the environment” said Keith Knutsson of Integrale Advisors. The extent of the shortfall will only be known after these next couple of years. The permits will then be purchased from another country in the European Union. This price can vary and has yet to be determined. One thing we do know, is it will come at the price at the expense of German taxpayers. As part of Germany’s agreement to prevent global warming under last year’s Paris Accord, the European Union has pledged to curb global warming by continuing to pursue reductions in carbon discharges not only for industrial production but also for agriculture and waste. A previous report from the European Commission displayed that emissions from the European Union would remain below the 2020 target, with 21 member States expected to keep or reduce their emissions below their national targets by 2020.
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2/3/2018 0 Comments What Happens to Nafta?Trade officials from Canada and Mexico met in Montreal recently to begin laying out proposals aimed at convincing the United States not to pull out of the North American Free Trade Agreement (NAFTA).
Representatives from Canada and Mexico will discuss an array of factors and responses to the Trump administration’s demands for altering the trade pact. The initial focus will be on the U.S.’s demands for increased U.S.-made content for cars made in North America. Since the summer of 2017, the United States, Canada, and Mexico have been locked in negotiations to reconstruct the old trade pact. “The U.S.’s goal lies in improving the NAFTA agreement. The current administration has made it very clear that they are willing to go in a different direction if that can’t be done” said Keith Knutsson of Integrale Advisors. Tensions continued to arise this month after Canada filed a complaint with the World Trade Organization against the U.S. trade regime and how it unfairly applies tariffs. Nafta Dispute Resolution panels started on Sunday, with a focus on energy and agriculture. These discussions are scheduled to end Monday, Jan. 29, with a meeting of top U.S., Canadian, and Mexican trade officials. Even if there are adjustments to how the automobile industry trades, there will still be large differences between the three nations as to how trade disputes are handled. The United States administration is trying to come out on top in these negotiations. However, it would be in everyone’s best interest to have a commitment ensuring “mutually beneficial trade.” |
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October 2018
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