Article

The European Union's Carbon Border Adjustment Mechanism has begun enforcing carbon tariffs on Egypt's $14 billion exports, significantly impacting key sectors such as steel and cement. This initiative, which aligns with EU emissions trading prices, could lead to annual losses of $1.2-1.8 billion for Egypt, prompting the government to propose compliance strategies, including domestic carbon taxes and a national carbon market. Capacity-building efforts are also planned to train engineers and enhance emissions monitoring capabilities.