Research On The Influence Of EU Carbon Border Adjustment Mechanism On China's Steel Export

The EU carbon border adjustment mechanism aims to achieve the carbon emission target of the new climate policy and protect the fair competition between local enterprises and foreign enterprises by levying carbon border tax.The EU is an important trading partner of China,while the carbon emission intensity of China's export products is relatively high,especially in the steel industry.The implementation of the border adjustment mechanism will have a certain impact on China's export trade.In this paper,the steel industry included in the initial tax scope of the carbon border adjustment mechanism is selected as the research object,and the impact of the carbon border adjustment mechanism is analyzed.Firstly,this paper introduces the theoretical basis of the impact of carbon border tax on steel export trade,and clarifies its mechanism from the perspectives of supply and demand.Then,the economic effect of carbon border tax is further analyzed by using the equilibrium analysis method.Secondly,this paper collects the export trade data of China's steel industry and the bilateral steel trade data between China and Europe over the years,and analyzes the current situation and trend of China's steel industry export from three dimensions: export scale,export product structure and export destination.Finally,using the non-competitive input-output method,this paper calculates the carbon emission intensity of China's steel industry since 2005 and the implied carbon emissions in China's steel export trade.On this basis,by establishing an estimation model of China's steel export demand to the European Union,the demand price elasticity coefficient of China-EU steel trade is obtained,and then the reduction of steel export trade volume caused by carbon border tax collection at different carbon price levels is calculated,so as to analyze the impact of the EU's attempt of carbon border tax on China's steel export.The research shows that the carbon emissions of China's steel exports are still high at present;The collection of carbon tax will reduce the export volume of steel in a short time.However,in view of China's emphasis on the transformation and upgrading of the steel industry and the environmental requirements of ultra-low carbon emissions,a new trade pattern will be opened in the future.Based on this,this paper holds that the impact of carbon border tax on steel industry can be reduced and the green development level and competitiveness of steel industry chain can be improved by constructing diversified clean energy supply system,promoting the intelligent,high-end and green development of steel production process,bringing steel industry into carbon trading market,broadening green financing channels of enterprises and accelerating market diversification.