With trade threats from President Donald Trump, the U.S. derailed the world’s first global carbon fee on shipping as an international maritime meeting adjourned Friday without adopting regulations.
Earlier this year, amid much fanfare, the world’s largest maritime nations agreed on the regulations, which would impose a fee on carbon pollution to clean up shipping. The next step of the process — adopting the regulations — during the International Maritime Organization meeting in London this week was widely expected to be a formality.
Instead, after much pressure from Trump , along with Saudi Arabia and a handful of other countries, delegates decided to postpone the decision by a year and adjourn. In the interim, nations will continue to negotiate and work toward consensus.
The develo