U.S. loses historic opportunity by withdrawing from Paris agreement - EP President

U.S. President Donald Trump said on Thursday that he had chose to pull the United States out of the Paris Agreement, a landmark global pact to fight climate change. Knowing the good work that we and countless others around the world are doing, there are plenty of reasons to be optimistic about our planet's future.

Mr Trump said he would try to negotiate a new, "fairer" climate deal. "If we can, great".

He said the deal "front loads costs on American people", "disadvantages the US" to benefit other countries and causes a "vastly diminished economic reduction".

The reaction around the world to Mr. Trump's decision was swift.

The White House indicated it would follow the lengthy exit process outlined in the deal.

"The years to 2020 will be crucial in determining if the worst effects of climate change can be avoided". "We need this Paris accord to preserve our creation".

The United States is the world's second largest greenhouse gas emitter after China, so Trump's decision could seriously hamper efforts to cut emissions and limit global temperature increases. But the national targets are voluntary, leaving room for the USA and the almost 200 other countries in the agreement to alter their commitments.

Separately on Thursday, European heavyweights France, Germany and Italy said in a joint statement that they regretted the United States' decision to withdraw from the accord, while affirming their "strongest commitment" to implement its measures.

"We deem the momentum generated in Paris in December 2015 irreversible, and we firmly believe that the Paris Agreement can not be renegotiated, since it is a vital instrument for our planet, societies and economies", wrote French President Emmanuel Macron, German Chancellor Angela Merkel and Italian Premier Paolo Gentiloni.

German Chancellor Angela Merkel said the U.S. president's move "can't and won't stop all those of us who feel obliged to protect the planet". The mayor had previously committed to honoring the accord in the city, despite Trump's decision. "GM will not waver from our commitment to the environment and our position on climate change has not changed", the company said in a statement.

But a number of other business leaders derided it in forceful terms. China plans to spend more than $360 billion on renewable energy by 2020, which it says will create at least 13 million new jobs. The coal industry is declining in China, India, and the USA due to market forces.

The immediate impact of Trump's move could be largely symbolic. And if the President wants to break the promises made to our allies enshrined in the historic Paris Agreement, we'll build and strengthen relationships around the world to protect the planet from devastating climate risks.

The increase in USA production is neutralizing the efforts of the OPEC cartel and other major oil-producing nations, like Russian Federation, to support prices by limiting their output.

Trump's announcement comes less than 18 months after the climate pact was adopted in the French capital, the fruit of a hard-fought agreement between Beijing and Washington under Obama's leadership.

Trump spoke from the White House Rose Garden on a warm, sunny day.

Ultimately, the lobbying by Trump's environmental protection chief Scott Pruitt and chief strategist Steve Bannon urging the president to leave won out. During Trump's speech, the faint sounds of protesters could be heard in the distance banging drums.

This ham-handed decision by Trump to drop the Paris agreement is a direct assault against Latinos. A White House official said the couple instead attended service at synagogue for the Jewish holiday of Shavuot.

As for the mechanics of withdrawal, worldwide treaties have a four-year cooling off period from the time they go into effect. Will China become the leader in producing solar power hardware?

  • Leroy Wright