U.S. Opposition Delays Global Shipping Carbon Tax as International Meeting Concludes
In a significant move, the United States successfully blocked a global fee intended to tackle shipping emissions during a pivotal international meeting, leaving the future of shipping decarbonization in jeopardy. The International Maritime Organization (IMO) was poised to vote on a Net-Zero Framework, which many countries supported, but U.S. pressure led to a postponement. Officials from the Trump administration took strong stances against the carbon tax, threatening retaliation against vulnerable countries ahead of voting. As a result, discussions on implementing regulations aimed at transitioning the shipping industry towards greener practices have been delayed, with the prospect of new regulations now hanging in the balance.
BBC, The New York Times, The Wall Street Journal, AP News, Reuters, E&E News by POLITICO, Safety4Sea, "Lloyds List", "Barrons", Bloomberg.com