"High tariff walls will disrupt world trade," the think tank said. : The European Union’s (EU) Carbon Border Adjustment Mechanism (CBAM) will not only disrupt global trade but also have a negligible impact on climate, according to a report released by Global Trade Research Initiative (GTRI). The carbon tax is also expected to pose a significant challenge to India’s metal industry. As much as 27 per cent of India’s iron, steel, and aluminium exports worth $8.2 billion went to the EU in 2022, the think tank said.