The billionaire wants China to be charged more to export chemicals to Europe
Jim Ratcliffe, billionaire owner of Ineos, advocates for tariffs on Chinese chemical exports to Europe to counter what he terms the "idiotic" decarbonization strategy through deindustrialization. He argues this approach leads to job losses and security issues, with emissions from other regions still affecting Europe. Ratcliffe highlights that government policies are causing the shutdown of European petrochemical industries, resulting in reliance on imports from the US and China. He points out the financial burden on his German plant due to higher energy and carbon taxes compared to US competitors. Ratcliffe references the US's protective approach towards domestic industries, which he feels Europe is neglecting. The European Union is planning a "clean industry deal" to aid businesses in adapting to green energy. Experts warn of cheap Chinese chemicals entering the market despite low global demand.
