Economics · Economy

Consider the following statements regarding the Carbon Border Adjustment Mechanism (CBAM) and its implications on international trade negotiations: I. The India-UK Free Trade Agreement (FTA) text has already incorporated legal provisions to permanently impose CBAM on Indian goods from 2027. II. India has actively reserved its position to challenge or impose retaliatory tariffs if CBAM mechanisms are unilaterally applied in an unfair manner. III. CBAM primarily targets highly carbon-intensive trade products such as cement, fertilisers, aluminium, and iron and steel. How many of the above statements are correct?