What would happen in reality is that customers in said affluent countries would face the bill, leading to less economic flow, while China and Co continue to produce the way they do.
If the maker of goods is not in good standing for offsetting their impact then the importing state introduces taxes for that deficiency and has it handled in the importing country.
The second is the idea of showing the actual cost of offsetting. Having honest conversations about that will promote local and incentivize R&D to reduce that cost. Fantastic stuff.