Bessent: Carbon Tariffs Could Be Part of an Overall Tariff Program
Published by Todd Bush on January 20, 2025
WASHINGTON (Reuters) - President-elect Donald Trump's pick for U.S. Treasury Secretary, Scott Bessent, told U.S. senators on Thursday he is interested in potentially enacting tariffs on carbon emissions.
"It’s a very interesting idea that could be part of an entire tariff program," Bessent told the Senate Finance Committee, "President Trump hasn't taken office yet, but if confirmed, I look forward to working with them on various strategies, some that could be specifically aimed for carbon.
Bessent said other tariffs could be aimed at other trade practices.
Subscribe to the newsletter
Daily decarbonization data and news delivered to your inbox
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.
Latest issues
-
California Utilities Want to Skip 5% Hydrogen Demos
Inside This Issue 🔧 Utilities Seek to Bypass Low-Level Hydrogen Blending Demo, Citing Proven Safety 🌍 EU Sets World’s First Voluntary Standard for Permanent Carbon Removals ✈️ Cathay Achieves Anot...
-
Three US Firms Just Formed a SAF Giant
Inside This Issue 🛫 New US Powerhouse: XCF Global, DevvStream & Southern Merge for SAF Scale ⛏️ Carbon Capture, ‘Rare Earth’ From Coal Among Projects Poised to Get $11.7M in State Grants 🗺️ Ca...
-
Why Bill Gates Bet $40M on This Carbon Capture Lab
Inside This Issue 🧪 Why Bill Gates Bet $40M on This Carbon Capture Lab ⛏️ Max Power Prepares to Drill Second Natural Hydrogen Well as Program Expands 325 km SW of Lawson Discovery 💰 Trafigura-Back...
Company Announcements
-
Terradot Acquires Eion to Form Leading Global Enhanced Rock Weathering Carbon Removal Platform
Terradot, an enhanced rock weathering (ERW) carbon removal company, today announced it has agreed to acquire assets of Eion, a U.S.-based ERW company known for pioneering olivine-based deployments ...
-
Clean Fuels Welcomes Proposed 45Z Rules
WASHINGTON, DC – Today, Clean Fuels Alliance America welcomed Treasury’s proposed rules for the 45Z Clean Fuel Production Credit, issued through the IRS. While the credit has been available since J...
-
pHathom Technologies Surpasses $12M Committed Capital with Closure of Seed Financing Round
HALIFAX, Nova Scotia -- pHathom Technologies, a climate technology company developing carbon capture solutions for existing coastal bioenergy and industrial facilities, today announced the closing ...
-
Growing Demand for Hydrogen Creates Opportunities for Appalachian Manufacturers
With abundant natural gas and a ready manufacturing base, Appalachia is positioned to be a leader in blue hydrogen production The hydrogen economy has transitioned to an emerging market. Appalachi...