Industry News

Thailand's steel & aluminum exporters to face new tariffs from CBAM

Views : 265
Update time : 2023-05-29 17:20:05
EU's introduction of the Carbon Border Adjustment Mechanism (CBAM) on October 1 will be a new levy for Thailand's exporters of steel and aluminum.

Last year, Thailand's steel exports to the EU were valued at US$201 million, and aluminum exports were valued at US$111 million, accounting for 0.7% and 0.4% of the total export value, respectively.

In the US market, Thailand's exported aluminum was worth US$884 million in 2022, occupying 1.5% of the total value.

According to the EU, during the transitional phase of CBAM, greenhouse gas emissions embedded in the imports should be reported by importers of steel, aluminum, cement, etc. without being subject to financial payments or adjustments.

The CBAM will take effect officially from January 1, 2026.
Related News
Read More >>
What Tariffs, Steel Prices Mean for E&S Construction Insurance in California What Tariffs, Steel Prices Mean for E&S Construction Insurance in California
Apr .25.2025
What Tariffs, Steel Prices Mean for E&S Construction Insurance in California
Nickel Price Update: Q1 2025 in Review Nickel Price Update: Q1 2025 in Review
Apr .25.2025
Nickel Price Update: Q1 2025 in Review
Higher steel prices benefiting Region steel mills Higher steel prices benefiting Region steel mills
Apr .25.2025
Higher steel prices benefiting Region steel mills
Vale's net profit drops 17% on lower iron ore prices Vale's net profit drops 17% on lower iron ore prices
Apr .25.2025
Vale's net profit drops 17% on lower iron ore prices