EU countries ready to negotiate UK carbon market link

EU countries have agreed to negotiate a link between their carbon markets and the UK's, aiming to exempt each other from carbon border tariffs. This decision follows Britain's exit from the EU and is seen as a step towards improving relations. However, the linkage may not be established in time to prevent UK firms from facing the EU's carbon border levy starting January 1, which could cost them around £800 million annually. The UK plans to implement its own carbon border levy in 2027, a year after the EU's.