Global Shipping Emissions Tax: A Threat to American Sovereignty and Economic Freedom

In London this week, the International Maritime Organization (IMO) convenes with the world’s largest maritime nations to consider adopting a sweeping set of regulations aimed at forcing the shipping industry away from fossil fuels through an unprecedented global tax on greenhouse gas emissions. On the surface, this may sound like a noble effort to protect the environment. However, beneath the green rhetoric lies a direct threat to American economic sovereignty and the freedom of U.S. shipping businesses. This move would impose the first-ever international carbon tax on shipping, with fees soaring as high as $480 per ton of CO2 equivalent...