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India just landed a major trade win, securing a 2.8 million tonne annual steel export quota with the European Union.

The European Union's Carbon Border Adjustment Mechanism (CBAM), set for full implementation from 2026, has emerged as a defining issue at the ongoing COP30 climate conference in Belém, Brazil. While the mechanism aims to align international trade with climate objectives, its implications for developing economies have prompted calls for dialogue and cooperative solutions that preserve both climate ambition and economic partnership. The mechanism will impose border tariffs on c