Carbon taxes are by far the most effective way to get down CO₂ emissions.

But I'm doubtful that implementing them only for one industry in one small country is very helpful.

I disagree, carbon taxes seem to be the best way to ensure your country starts to outsource all of it's carbon producing activity to less developed countries who do a worse job containing their emissions. This has been happening in europe for quite some time with the manufacturing of their wind turbines iirc. It's a super carbon heavy emission to produce them, so the europeans have them made elsewhere to make it look like their emissions are super low, which is essentially a lie for politicians to sell environment-crazed voters.

Right. Why not carbon tax all industries (and imports), then subsidize select essentials like pumping water and growing agricultural goods?

Meanwhile, China simply doesn't care.

Good news: we're implementing them widely and in all eu countries.