China on Climate: No Deal

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In a potentially serious blow to President Obama and Democrats in Washington, who had been counting on a deal coming out of the climate conference in Copenhagen, China has signaled that it is not interested in making any deals, but rather hopes to put out "a short political declaration of some sort." The U.S. was especially hoping that the giant nation would agree to a "border tax" that would penalize countries that would not participate in a climate deal, and this was a key part of the cap-and-trade bill passed by the House over the summer. (Without it, the bill faces slim chances in the Senate, according to Politico.) Meanwhile, the U.S. — which has faced criticism and stalling at the conference from developing nations for not contributing enough money to the cause — said this morning that it will help create a $100 billion annual fund by 2020 to help poorer countries address climate change. But the commitment, Secretary of State Hillary Clinton said, depends on a substantive deal coming out of Copenhagen that will include increased transparency on emissions cuts. That's something else China has specifically signaled it is not inclined toward.

China tells U.S.: No deal [Politico]
U.S. pledges billions; China says climate pact is doubtful [WP]