Trump Says US Will Withdraw From Paris Climate Accord

European Commission President Jean-Claude Juncker, European Council President Donald Tusk and Chinese Premier Li Keqiang are vowing to forge ahead with the Paris agreement without the U.S. when they meet in Brussels Friday morning.

"The Paris agreement is a cornerstone of cooperation among the nations of this world".

But Merkel, whose country hosts this year's global climate summit, said it was now time to look ahead. "And they won't be", Trump said.

But despite Trump's decision to pull out, Germany is not looking to press sanctions against the US.

"It is unfortunate that Mr. Trump made a decision to pull out from the Paris Agreement". Former Democratic President Barack Obama expressed regret over the pullout from a deal he was instrumental in brokering.

"As someone who cares deeply about our environment, I can not in good conscience support a deal which punishes the United States", he said.

"Today's decision is a setback for the environment and for the U.S.'s leadership position in the world", Goldman Sachs Group Inc Chief Executive Lloyd Blankfein wrote on Twitter.

It is galling to recall that the USA signed the Paris Agreement just 13 months ago, a momentous occasion which has been undone through one man's selfish belief that the United States economy - and the pursuit of maximum commercial gain, apparently at any cost - is more important than the future of the planet.

"In legal terms, their pullout from the agreement is not a big deal".

Global leaders including the pope had pressed Trump not to abandon the accord.

The Paris climate agreement gives undue advantage to India and China at the cost of USA interests, President Donald Trump said on Thursday, announcing America's withdrawal from the pact. The goal of the funding is to help nudge developing countries towards cleaner energy like wind and solar instead.

Trump has repeatedly cast doubt on the science of climate change and once called it a hoax perpetrated by China to weaken USA business.

Mr Trump's decision is an extraordinary setback to this global effort and marks the United States as a rogue nation on environmental protection.

Trump chose to pull the USA from the landmark 2015 global agreement created to fight climate change despite entreaties from United States allies and corporate leaders in an action that fulfilled a major campaign pledge.

"We are getting out and we will start to renegotiate", Trump said at the Rose Garden of the White House. This means that the USA will leave the Paris Agreement in 2020.

"India makes its participation on receiving billions and billions of dollars from developed countries".

The White House said it would stick to United Nations rules for withdrawing from the pact.

The president can activate the treaty withdrawal process for the United States, but that process will still take four years. That country must then wait another year.

Disney chief Robert Iger followed suit, saying he was resigning from the panels "as a matter of principle". "Canada is unwavering in our commitment to fight climate change and support clean economic growth".

Trump's top economic adviser, Gary Cohn, recently said, "Coal doesn't even make that much sense anymore as a feedstock". "It wasn't enough", he said. "We can not overlook the fact that climate change remains one of the biggest environmental risks to humanity". "Industry must now lead and not depend on government", tweeted General Electric CEO Jeff Immelt.

THE FACTS: This study was paid for by two groups that have long opposed environmental regulation, the U.S. Chamber of Commerce and the American Council for Capital Formation.

"If the Trump Administration had remained in Paris they would've been obstructionist and actually an impediment to progress - so now they've stepped out I think it's a positive".

Democrats blasted the president's move.

She said while the USA leader had made the decision, the private sector can still do its part.

Vice President Mike Pence, interviewed late Thursday on Fox, said that Trump "has demonstrated his commitment not just to keep his word, but to put American workers, American consumers, American energy, and the American people first".

"I accepted the invitation to serve on the President's CEO Forum because I believe I can contribute to the policy dialogue in Washington and serve as a voice for investors", Fink said in a statement.

Supporters of the pact said Trump's move meant the United States could no longer be trusted to fulfill worldwide commitments. Trump's announcement fulfilled a campaign pledge.

The Paris agreement commits signatories to efforts to reduce greenhouse gas emissions that cause global warming, which is blamed for melting ice caps and glaciers, rising sea levels and more violent weather events. Last month, it launched a spy satellite for a US intelligence agency.

The Paris accord, reached by almost 200 countries in 2015, was meant to limit global warming to 2 degrees or less by 2100, mainly through country pledges to cut carbon dioxide and other emissions from the burning of fossil fuels.

Previous year was the warmest since records began in the 19th century, as global average temperatures continued a rise dating back decades that scientists attribute to greenhouse gases.

  • Arturo Norris