The EU's CBAM, which entered its transitional phase in October 2023, targets imports of carbon-intensive products such as aluminium, cement, electricity, fertilisers, hydrogen, and iron and steel. Importers of these goods into the EU are required to report embedded emissions, and from 2026, they will need to purchase CBAM certificates corresponding to these emissions. Countries with significant exports of these products to the EU are directly impacted by CBAM. Notably, nations like Russia, China, Turkey, India, and the United States are among those most affected, as they are major exporters of the targeted goods. Additionally, developing countries with limited carbon pricing mechanisms may face challenges adapting to CBAM requirements. At least 46 countries have implemented carbon pricing instruments, and many more are indirectly affected by policies like the EU's CBAM. The global landscape of carbon taxation is evolving, with an increasing number of jurisdictions adopting measures to price carbon emissions and mechanisms like CBAM influencing international trade dynamics.