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yesterday

U.S. Rejects IMO Net-Zero Shipping Plan, Threatens Retaliation

Senior U.S. cabinet secretaries described the proposal as an unfair global carbon tax on American consumers, promising retaliatory measures against countries that back it.

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Overview

  • On August 12, Secretaries Rubio, Lutnick, Wright and Duffy issued a joint statement officially rejecting the IMO’s Net-Zero Framework.
  • The administration argued the framework would impose a global carbon levy on U.S. shipping that drives up costs and precludes use of LNG and biofuels.
  • Washington warned it will pursue retaliatory actions against member states that support the measure ahead of an October vote requiring two-thirds majority approval.
  • The April agreement by simple majority pairs new ship fuel standards with a tiered levy projected to raise about $40 billion by 2030 and cut emissions roughly 8%.
  • IMO members remain split over implementation timing, equity provisions and whether to use a flat levy or a credit-trading system as they prepare for formal adoption talks.