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Trump Expected To Withdraw From Paris Climate Deal

Trump Expected To Withdraw From Paris Climate Deal

US coal company shares dipped alongside renewable energy stocks on Wednesday after reports that President Donald Trump plans to pull the United States from a global accord on fighting climate change.

Musk said last week that he talked to Trump about the Paris climate agreement, the 2015 accord in which most nations committed to reducing emissions to fight climate change.

President Donald Trump is expected to withdraw the US from the Paris Climate Accord.

"I will be announcing my decision on the Paris Accord over the next few days", Mr Trump wrote on Twitter.

Trump has tweeted that he will announce his decision on the Paris deal on Thursday 3pm (US time).

He said countries such as China and Canada have and are stepping up and can fill the void left by the U.S.

Trump's top aides were divided on the issue; some advocated withdrawal, others urged him to stay. "It would also be catastrophic in the battle against climate change".




If Trump agrees to leave the Paris Agreement, the US would join Syria and Nicaragua as the only countries not participating.

"For you skeptics out there", Edwards said, "our own defense department says this is going to cost us tens of billions of dollars a year in maintenance on our naval bases and other military facilities because of climate change and sea level rise".

China is the world's largest emitter of greenhouse gases, responsible for nearly 30 per cent of global emissions in 2016 and recently recommitted to its Paris targets.

"If we lose that leadership, there may be a tendency for especially the developing world.to back off their pledges and the whole climate agreement could come unraveled" said Schnoor.

Trump made the decision in part after receiving a letter from 22 Republican Senators, including Senate Majority Leader Mitch McConnell, R-Ky., calling for a clean exit from the accord, Axios reported. Secretary of State Rex Tillerson, former Exxon CEO, is among those in the Trump administration urging the president to keep the USA commitment.

Under the deal, Mr Obama committed the United States to cutting its emissions by between 26% and 28% from 2005 levels by 2025. Reports Wednesday indicated that he is expected to withdraw from the climate agreement, though some news outlets cautioned that he had not made a final decision.

In Berlin, European Commission President Jean-Claude Juncker stressed withdrawal would take years, saying, "The Americans can't just leave the climate protection agreement". It would reflect a major reversal of the Obama administration's efforts on climate change. White House adviser Ivanka Trump set up a review process to make sure her father received information from experts in both the public and private sectors before making a decision on the agreement.


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