The European Parliament wants to expand the European carbon border charge, CBAM, to many more steel and aluminium products.
CBAM currently covers, among others, steel, aluminium, cement, fertilisers, hydrogen and electricity. The European Parliament also wants to add products containing steel and aluminium, such as bolts, nuts, screws, steel wire, cables, pipes, metal shelving, storage systems and fencing.
The expansion has not yet been finalised. The European Parliament has adopted its negotiating position. The next step will be negotiations with the Council of the EU and the European Commission.
The direction of travel is clear: CBAM is increasingly affecting more products and, consequently, a larger part of international supply chains.
For importers, it is therefore becoming increasingly important to have a clear understanding of goods flows, commodity codes and product composition.
Do you import steel or aluminium products from outside the EU? If so, it is advisable to check now which products could potentially fall within a future expansion of CBAM.
Do you have questions about CBAM or your import flows? Please feel free to contact us.
