The US Climate Bill
The US Climate Bill received a favorable vote of 219 to 212 by the House of Representatives. The Climate Bill calls for all utilities to secure 15 
percent of their electricity from renewable sources like wind, solar, hydro and geothermal energy by 2020. This bill will put a price on greenhouse gases and cap CO2 emissions; it will determine how much Americans pay for energy and the car they drive.
The US Climate Bill also focuses on foreign trade, creating tariffs on high carbon producing countries. Two major countries to be effected by these tariffs will be China and Korea, which are also 2 of the biggest US foreign trade countries. China is currently the biggest greenhouse gas producer, followed closely by the US. China and the US have received much criticism in the past by other world countries for not having defined targets for cutting carbon emissions. The introduction of the US Climate Bill will be a step in the right direction, binding the US to cutting carbon emissions by 17% from 2005 levels in 2020 and 83% in 2050.
Assuming the US Climate Bill makes it through the Senate, I wonder how these changes will affect the future of US foreign trade, and the way the world will view the new US commitment to the reduction of carbon emissions?
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