A trade model is used to estimate two coalition scenarios (uniform or graduated price) relative to a current policy baseline. Modeling suggests that the coalition would meaningfully reduce emissions, increase fiscal revenues, and minimally reduce domestic production (see details in supplementary materials). Emission reductions A first-wave coalition implementing a uniform or graduated carbon price floor cuts emissions by about 1.5% of global greenhouse gases (2.0% of CO2). Emissions changes represented are annual reductions generated by the price floor relative to 2023 levels. Public revenue A coalition with either a uniform or a graduated price raises nearly $200 billion per year in public revenue, mostly from domestic pricing rather than border carbon adjustment. …