The walk back of a bad idea begins.
The Wall Street Journal reports:
The European Union is willing to be flexible with its emissions tax on airlines, but won’t suspend the tax unless countries can agree on an ambitious alternative, EU Transport Commissioner Siim Kallas said Monday.
Several countries have expressed opposition to the tax, with some threatening retaliatory measures against the EU. It is unclear whether a global agreement is possible by April 2013, when the first payments are due.
“A trade war is not a desirable outcome of this situation,” Mr. Kallas, who also serves as vice president of the European Commission, told Dow Jones Newswires in an interview…