The future for global trade in a changing climate

Countries are increasingly linking climate and trade with measures like the US Inflation Reduction Act and EU Carbon Border Adjustment Mechanism (CBAM) although other countries have critiqued these measures including at COP27. However, the EU maintains that the CBAM will only minimally impact trade while simultaneously leveraging further climate action. As the design of CBAM is being negotiated, with the trial period beginning in early 2023, what should we know about CBAM?