Paulson Warns Against "Border Tax"

Outgoing Treasury Secretary Henry Paulson warned yesterday that imposing a "border tax" on countries lagging behind the United States on climate protection, calling it a "dangerous path." Some congressional leaders have considered the tax as a way to push China and other developing countries to accept emission reduction targets as a part of a global climate change treaty. A "border tax" was included in climate change legislation that died last summer. Paulson says the measure would amount to "protectionism" would be counterproductive. Instead, Paulson supports putting a price on carbon, though declined to say if he supported cap-and-trade or a carbon tax. Read more at Climate Wire (subs req.)