13/11/2023 (Agence Europe) – Ahead of its Director General’s meeting with a number of Japanese industrialists in Tokyo on Monday 13 November, the Taxation and Customs Union DG published an opinion paper on the Carbon Border Adjustment Mechanism (CBAM) (see EUROPE 13261/23). Its entry into force now has an impact on Japanese industries, some of whose exports are subject to this regulation: “Japan’s exposure to the CBAM sectors is mostly concentrated in the steel sector, which represents about 3% of the total value of Japanese exports to the EU”, says the note. “The European Commission has provided extensive sector-specific guidance for industry on how CBAM will work during the transitional phase. But we will ensure that the burden on Japanese firms is no higher than that of EU producers“. To see the note: https://aeur.eu/f/9j8 (IS)