Obama Opposes Tariffs As Part of U.S. Cap-and-Trade Bill

President Obama praised the climate bill passed by the U.S. House of Representatives as “an extraordinary first step,” but said the final version should not impose tariffs on imports from countries that lack systems for pricing carbon. The House bill contains such a provision, but Obama said he hoped it would be removed in the Senate version because “I think we have to be very careful about sending any protectionist signals out.” Obama rejected criticisms that the House bill — which imposes a cap and a price on fossil fuel use designed to slash U.S. CO2 emissions by 83 percent below 2005 levels by 2050 — had been badly weakened by too many concessions to industry. He told reporters the bill was part of his administration’s “comprehensive approach” to energy and climate that included massive economic stimulus spending on renewable energy development and energy efficiency programs, as well as tougher automobile mileage standards. “Over the first six months we’ve seen more action on shifting ourselves away from dependence on foreign oil and fossil fuels than at any time in several decades,” Obama said.