Emissions trading 'could cost 1m jobs' | The Australian

Ms Ridout warned if the Government got the scheme wrong, businesses would press for exemptions and border tariffs against countries which do not have emissions trading. Such tariffs would likely create difficulties in trade diplomacy talks.

The submission says businesses accounting for well over 10 per cent of national production and one million jobs are at risk of "carbon leakage" under emissions trading.

This refers to the risk of business shifting overseas to countries which do not have emissions trading.