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As U.S. President Donald Trump translates his "America First" strategy into import tariffs and the European Union prepares to adopt countermeasures moving the global economy toward a trade standoff, the real challenge facing the two economies – indeed, the entire world – is being ignored. That challenge is to shape the global economy, including trade, so that it finally respects the planet's natural boundaries.In order for progressive politics to succeed, its proponents need to go beyond defending the existing trade system against Trump.That is why the German Green Party is calling for a floor price on CO2 emissions to be established as part of the EU's Emissions Trading System.This would be an important step toward a just, climate-responsive trading system.Rather than allowing itself to be dragged into Trump's destructive trade games, the EU should introduce border carbon adjustment in order to foster a climate-friendly system.By doing so, the EU would make the case for fairer and cleaner trade.With such a calibrated and forward-thinking response to Trump's narrow-minded protectionism, the EU would cement its role as a trailblazer in the quest for a fairer, more sustainable trading system.
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