BASF boss Markus Kamieth said it was becoming 'very, very difficult in practice' for industry to deal with Europe's market for carbon permits and attendant taxes

BASF boss Markus Kamieth said it was becoming 'very, very difficult in practice' for industry to deal with Europe's market for carbon permits and attendant taxes

 Christopher Neundorf

The boss of German chemicals giant BASF on Wednesday called for the European Union to relax carbon trading rules, as the firm reported a drop in core profit with the industry in crisis.

Speaking to reporters on a call, Markus Kamieth said EU plans to put a tax on carbon-intensive imports were a "good idea" in principle, but it was becoming "very, very difficult in practice" for industry to deal with Europe's market for carbon permits and attendant taxes.

Originally published on doc.afp.com, part of the BLOX Digital Content Exchange.

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