U.N. drops their carbon tax.
Wall Street Journal (10/17/25) editorial: "Congratulations to consumers the world over, who on Friday were spared a new tax—for now at least. This week we warned that a United Nations agency you’ve never heard of was about to impose the first global carbon tax—on shipping. We’re pleased to report it blinked. The International Maritime Organization (IMO), an arm of the U.N. based in London, had intended this week to approve the new tax on carbon-dioxide emissions from cargo ships for purposes of mitigating climate change. It would have been the first global carbon tax, and the first global tax of any kind paid directly to the U.N. Shippers would have had to pay a fee per metric ton of 'excess' carbon-dioxide emissions into an IMO-managed fund, with the money then divvied up to various governments and businesses. The cost inevitably would be passed onto consumers."
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