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Illustration: Sarah Grillo/Axios

Sen. Chris Coons (D-Del.) and Rep. Scott Peters (D-Calif.) unveiled legislation on Monday that would levy a fee on imported carbon-intensive goods, such as steel and aluminum.

Why it matters: The "border carbon adjustment," which is expected to be included in the legislative text of the Democrats-only infrastructure bill that would move through the reconciliation process, uses trade policy to help address climate change.

  • It follows a move by the European Union to implement a similar policy.

Details: The border carbon adjustment, or BCA, would protect American industries that have to pay more to comply with climate regulations from competitors based in countries that aren’t reducing their emissions as aggressively.

  • Foreign producers of goods such as steel would have to pay a fee based on each ton of carbon dioxide they emitted while producing such materials.
  • Initially, the draft bill targets the following energy and pollution-intensive products: steel, aluminum and cement, as well as natural gas, petroleum and coal.
  • The tariff may expand over time.

The intrigue: The measure might be attractive to moderate lawmakers who are worried about hobbling the domestic energy and manufacturing sectors.

Yes, but: Policies like this can be difficult to implement, especially since countries have expressed their emissions reduction goals differently.

  • Such a measure could provoke other countries to act in ways that restrict American imports.
  • In addition, considering and enacting such a measure could make diplomatic negotiations at the next United Nations climate summit even more fraught.

Go deeper

2 hours ago - World

Biden: U.S. combat mission in Iraq will end this year

Biden returning to the White House on July 25. Photo: Samuel Corum/Getty Images

The United States' combat mission against the Islamic State in Iraq will be completed "by the end of the year," President Biden said Monday prior to a meeting with Iraqi Prime Minister Mustafa al-Kadhimi.

Why it matters: Biden is close to shifting the U.S. military mission in Iraq to a fully advisory role more than 18 years after combat troops were sent to the country under the former President George W. Bush.

How extreme weather feeds inflation

Illustration: Annelise Capossela/Axios

This summer's extreme weather is having ripple effects that could raise food prices in the U.S. and disrupt diets around the world.

Why it matters: Climate scientists and food supply experts, like those at the Food and Agriculture Organization (FAO) in Rome, have long warned about the impact of human-caused global warming on prices, food shortages and hunger.

EA Sports is in expansion mode

EA Sports general manager Daryl Holt (left). Photo illustration: Annelise Capossela/Axios. Photos: EA Sports

The biggest player in sports video games has plans to get even bigger — on mobile, in football, maybe even with basketball again — EA Sports general manager Daryl Holt said in an exclusive interview with Axios.

Why it matters: Sports gaming doesn’t get much press, but it’s a surging market with increased competition and lots of players up for grabs.