The EU will be the first in the world with historic measures such as climate tariffs. The entire climate package goes by the unfortunate name "Fit for 55" (which stands for the EU to reduce its emissions by 55 percent by 2030) The new climate tariffs are hidden under bureaucratic descriptions such as "carbon border adjustment mechanism" The increased emissions trading will make not only aviation but also fossil heating of homes more expensive.
A new Social Climate Fund will protect people from energy poverty. It is a new bag of money that will cushion the blow for consumers and small businesses affected by increased climate taxes.