Trump withdraws from Paris climate deal, but says he'll begin new negotiations

Musk said on Wednesday that he had done "all I can" to convince Trump to stay in the accord, and threatened to leave presidential advisory councils if Trump announced a US exit.

He said the USA would cease all implementation of non-binding elements of the agreement "as of today" and it would begin negotiations either to re-enter the Paris accord or to have a new agreement "on terms that are fair to the United States, its businesses, its workers, its people, its taxpayers". The White House signaled withdrawal was likely, but Trump has been known to change his mind at the last minute on such major decisions. And the final decision may not be entirely clear-cut: Aides still were deliberating on "caveats in the language", one official said.

Would cost the US economy almost $3 trillion over next several decades.

Trump has several potential options.

Trump's withdrawal will take until November 2020 to unfold - creating an opening for him to reverse course, and potentially making it an issue in the next presidential election. Each country sets its own voluntary goals for emissions cuts, pledging to become stricter as time goes by, and there are no binding rules about how the countries should meet those goals.

An analysis by the Climate Action Tracker, a consortium of researchers, suggests that climate-change policies instituted by Obama would have cut United States greenhouse-gas emissions by 10% below 2005 levels in 2025. However, a move to formally pulling out of the accord outright would take three-and-a-half years under the standard cooling-off period for new global treaties.

White House will argue Paris climate pact would cost United States economy $3T and 6.5M jobs over next several decades; and "decapitate' coal industry. - Jennifer Jacobs (@JenniferJJacobs) June 1, 2017 While the decision by the President sounds immediate, it evidently takes time for the officially back out". While traveling overseas last week, Trump repeatedly was pressed to stay in the deal by European leaders and the Vatican.

Leaving the accord aligns the United States with Syria and Nicaragua.

Billionaire environmental activist and mega-political donor Tom Steyer said in a statement, "Trump has abdicated American leadership and sent a clear message to both our allies and enemies alike: In the search for courageous and moral solutions to the challenges of the 21st century, don't count on America to lead". They include Apple, Google and Walmart.

Earlier, Chinese Premier Li Keqiang said his country would stick to the accord.

Ultimately, Trump sided with the hardliners within his Administration, including chief strategist Steve Bannon and Environmental Protection Agency Administrator Scott Pruitt, who insisted that withdraw would further his domestic agenda and rally his base.

In a statement Thursday, Obama touted the benefits of the Paris agreement and blasted Mr. Trump's leadership.

"I'm hearing from a lot of people both ways, both ways", he told press after meeting the Vietnamese prime minister in Washington.

The U.S. exit from the climate pact could raise doubts about the commitment of the world's largest economy to curbing global warming and make it more hard to hold other nations to their environmental commitments. Senior adviser Jared Kushner generally thinks the deal is bad but still would like to see if emissions targets can be changed.

The leaders of Denmark, Finland, Iceland, Norway and Sweden say the 2015 Paris Agreement to reduce global warming was a commitment "to our children". In the unlikely scenario that the USA adopts no climate policies at all, Climate Interactive estimates that American emissions would amount to 6.7 gigatons of Carbon dioxide equivalents per year by 2025, compared to emissions of 5.3 gigatons per year if the us follows through on its Paris commitments.

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