The Ministry of Sustainable Development requires an assessment of current national environmental legislation. Produce a report that critically evaluates the current effectiveness and geopolitical feasibility of national-level carbon tax and cap-and-trade schemes in achieving Paris Agreement targets. Offer your personal judgment on whether such mechanisms are sufficient without concurrent radical infrastructure reform, and suggest three key economic trade-offs for discussion regarding industrial competitiveness. The report should be titled: Evaluating the Efficacy of Carbon Pricing Mechanisms: A Critical Review.