OPINION | EU border tax will hit steel and other exports hard - manufacturers have no time to lose

For South Africa, exports to the EU of iron, steel and aluminium will be the categories that are initially hardest hit. Crucial steps must be taken by businesses and policymakers to adapt - and this must happen soon, says Duane Newman.

The European Union (EU) has launched its Carbon Border Adjustment Mechanism (CBAM), which will make it more costly and complicated for African firms that export to the EU. 

The CBAM, which came into force on 1 October this year, is an import tariff on carbon-intensive goods from abroad. It is applied as an import tax paid by the importer when products enter the EU.