During a recent World Trade Organization (WTO) meeting held in Geneva on July 7, several countries, including India, Russia, and Brazil, expressed concerns regarding the carbon tax and deforestation regulation implemented by the European Union (EU). According to an official, these nations highlighted that these measures would have adverse effects on their industries.
In the two-day meeting of the WTO’s Council for Trade in Goods, which concluded on July 7, these countries raised their objections. Specifically, India voiced its disappointment with the EU’s deforestation regulation, emphasizing that the agricultural sector in developing countries plays a vital role in employment and economic well-being for a significant portion of the population. India stated that it was unfortunate that the EU’s policy choices directly harmed the economic interests of these socio-economic groups, as reported by the trade official based in Geneva.
