Our daily puddle jump around the world

🇪🇺 The EU reached an agreement to tax some imports based on the greenhouse gasses emitted to make them. The deal, which would be the first of its kind in the world, is expected to be officially adopted in the coming weeks as part of a wider package of climate-related EU legislation, and will apply a GHG tax to all imports of iron, steel, cement, fertilizers, aluminum, and electricity. EU officials said the measure is designed so that foreign companies will face the same emissions taxes as those who operate domestically.

🇳🇿🚭 New Zealand’s Parliament passed the world’s first age-related ban on tobacco yesterday. Under the new legislation, anyone born on or after Jan. 1, 2009, will never be able to buy cigarettes or tobacco products in the country. The bill will also limit the number of retailers able to sell tobacco to 600 nationwide, down from 6,000 currently. New Zealand’s health minister said the measure is projected to save ~$3.2 billion in overall medical costs, though opponents warned it could fuel a tobacco black market.

🇨🇳 China’s government is reportedly working on a $143 billion package for its semiconductor industry. The bill would represent one of Beijing’s largest fiscal packages in at least five years. A majority of funds will go towards subsidies and tax credits to bolster domestic semiconductor production and research in China, Reuters reports, citing three internal sources. Separately, Japan and the Netherlands agreed to join the US in restricting semiconductor sales to China; both countries are home to a major global chip supplier (Tokyo Electron & ASML, respectively).