I really disagree - the most valuable thing is that we have an overarching mechanism that can control emissions. Of course yes it can be politically dismantled, but this applies to all imaginable policy based mechanisms.

And like I described in my comment, the reduction rate of was just recently increased in the EU mechanism, but this is not visible in the historical numbers yet.

And re comparing to total economy emissions of the US, let's not forget how much bigger those are in the US than in the EU, more than double. The US has a lot more low hanging fruit to pick.