Canadian exports at risk from U.S. climate change bill

Proposed U.S. legislation could slap import levies on a range of Canadian products - from steel and cement to paper and ceramics - if Washington deems Canada is lax in fighting global warming. The climate change legislation also includes low-carbon standards that could drive up the cost of imports from the Alberta oil sands. Leading Democrats in the U.S. Congress this week introduced a bill to cap greenhouse gas emissions that would require the administration to impose tariff-like fees on importers whose own governments don't have regulations, reporting rules or enforcement mechanisms that are as tough as those laid out in the legislation. U.S. President Barack Obama and congressional leaders are promising to move quickly on measures to combat climate change - from emission caps on industry, to low-carbon standards for transportation fuel, to renewable energy portfolios for utilities. And while Mr. Obama yesterday warned of the dangers of protectionism at the Group of 20 meeting in London, trade experts say the environmental policies that he backs include a minefield of potential protectionist measures that would favour domestic producers over importers...Globe & Mail