The European Union and the United States are in talks on forging a pact with OECD countries and China, if agreed, a global pact will be created to phase out import tariffs on goods such as wind turbines, renewables and green technologies.
"The talks are entering an advanced stage. Brussels and Washington hope this could be one of the incentives needed to get China on board in the lead up to the Copenhagen climate change talks," one EU diplomat.
Several U.S. companies are urging the Obama adminstration to find alternatives routes to help boost global trade in environmental goods and services.
It's a chance to jump-start U.S. trade policy and aid global climate negotiations at the same time," said Jake Colvin, vice president for global trade policy at the National Foreign Trade Council, a U.S. business group.
Not only to boost global trade, but helping the environment is one of the major factors intented for this tax pact. The United States and the European Union has put a lot of pressure on China to lower it's emissions, but in return China wants money to help harness new greener technologies for its economy.
Further discussions will take place at the World Trade Organization in Geneva.
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*all information sourced from a recent Reuter article.
