We aim to measure the impacts of the adoption of climate policies in developed countries (USA and EU) on the Brazilian economy. We also consider the possible adoption by those countries of compensatory board tariffs based on the carbon content of imported products, aiming to reduce the loss of competitiveness and the leakage in emissions. The results indicate that Brazil welfare losses will not be larger than 0.2%, in 2025, what means it will suffer few effects from climate policies in the developed countries.
