UVA Economist Weighs Impacts of Trump's Paris Decision

Gwen Vasquez
June 5, 2017

Still, Trump emphasized his claim that the accord imposes harsher restrictions on the United States than on other big polluters, putting America at a "permanent disadvantage".

The World Meteorological Organization estimated that US withdrawal from the emissions-cutting accord could add 0.3 degrees Celsius to global temperatures by the end of the century in a worst-case scenario.

In a speech from White House's Rose Garden on Thursday, Trump pointed out that New Delhi would get billions of dollars for meeting its commitments under the Paris deal.

"The Paris Accord is a bad deal for Americans, and @POTUS' action today is keeping his promise to put American workers first", read the post that accompanies the video.

The move is significant as the United States is responsible for one-fifth of global emissions. "We disagree - so we've changed it. #MakeThePlanetGreatAgain".

The relevant MIT researchers believe that the Paris Agreement is an unprecedented and vital effort by almost 200 countries to respond to the urgent threat of global climate change. The fund aims to help developing countries implement strategies to tackle the effects of climate change.

The leaders of Germany, France and Italy issued a rare joint statement calling the Paris accord "irreversible" and stating it "cannot be renegotiated".

Merkel, whose country hosts this year's worldwide climate summit, called Trump's decision "extremely regrettable, and that's putting it very mildly".

Several major U.S. companies, including Wal-Mart Stores Inc, JP Morgan Chase & Co and IBM Corp, on Friday said their CEOs will remain in an influential presidential advisory group despite objecting to President Donald Trump's withdrawal from the Paris climate accord.

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Trump, tapping into the America First message he used when he was elected president past year, said he would withdraw the U.S. from the landmark 2015 global agreement on tackling global warming.

However, the Paris agreement was welcomed by numerous evangelical Christian groups, including the World Evangelical Alliance and the Lausanne Movement.

Trump has long criticized the Paris deal, promising to "cancel" it on the campaign trail, and is an outspoken climate science skeptic, calling climate change "an expensive hoax".

A spokesman for Peabody Energy Corp, America's largest publicly traded coal miner, had said on Wednesday that the company would support a decision by Trump to withdraw from the Paris deal because the "accord is flawed on a number of levels".

But just days after returning to the USA, he angered many world leaders by withdrawing from the Paris climate agreement.

"That is why President Trump is committing a mistake with dramatic and fatal consequences", she said. That would be a "heavy lift", he said, "but I am going to discuss that with the highest officials in China this week".

He said he was deeply disappointed by Mr Trump's decision and did what he could to try to persuade Mr Trump to stick with the agreement as nations tackle "the greatest challenge our planet has ever faced".

"A friend of mine likes to say that a thermometer is neither a Republican nor a Democrat", said Webb, who traveled to Paris for the signing of the accord in 2015 to raise awareness among the public that many evangelical Christians are concerned about climate change.

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