Connect with us

Hi, what are you looking for?

Capital Business
Capital Business

Top Story

Sarkozy wants tax on US products if Trump scraps Paris climate pact

French president Nicholas Sarkozy/FILE

French presidential candidate Nicholas Sarkozy/FILE

PARIS, France, Nov 14 – French presidential candidate Nicolas Sarkozy has proposed that Europe apply a carbon tax on American imports if Donald Trump pulls the United States out of the Paris climate pact.

More than 100 countries have ratified the Paris global emissions deal, which was inked in December after marathon talks to cap greenhouse gases that cause global warming.

“Donald Trump has said – we’ll see if he keeps this promise — that he won’t respect the conclusions of the Paris climate agreement,” Sarkozy said late Sunday on the TF1 television channel.

“Well, I will demand that Europe put in place a carbon tax at its border, a tax of 1-3 percent, for all products coming from the United States, if the United States doesn’t apply environmental rules that we are imposing on our companies,” he added.

Sarkozy, a frontrunner for the nomination of the centre-right Republicans party, is also in favour of forcing public authorities in Europe to use more products or materials made in Europe.

Europe can no longer be “weak” or “naive”, Sarkozy said, even as he defended the idea of the free movement of people and goods.

US president-elect Trump was elected on an overtly protectionist platform, promising to scrap international trade deals and railing against jobs and factories being sent abroad.

Economists fear that moves to protect national markets through tariffs or other barriers risk kicking off a global cycle of measures that would reduce international trade.

UN Secretary-General Ban Ki-moon told AFP last Friday that Trump might reconsider his pledge to cancel the Paris deal, saying it would “create serious problems if anybody wants to undo it.”

France’s Republicans party will select this month their candidate for next year’s presidential election. Ex-prime minster Alain Juppe holds a lead in the polls over Sarkozy, who was president from 2007-2012.

Advertisement. Scroll to continue reading.
Click to comment
Advertisement

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...

Headlines

NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...

Kenya

NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...

Coronavirus

NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...

Coronavirus

NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...