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Brussels — The first glimpse is emerging of a levy the EU is drawing up to ensure its Green Deal environmental rules aren’t undone by nations with weaker standards.

The measure being drafted by the EU’s executive arm will penalise the greenhouse gas pollution produced by factories outside the region that ship their products into Europe. The “carbon border adjustment mechanism” is meant to ensure that domestic industries most at risk from stricter climate policies aren’t hurt by the Green Deal...

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