Menu

Search

  |   Commentary

Menu

  |   Commentary

Search

US under Trump Series: Paris Climate Accord likely to meet its premature end in US

Last year, President Obama agreed to a climate agreement known as the Paris Climate Accord with other global leaders in an attempt to reduce carbon dioxide and other greenhouse gasses. However, the agreement was reached without the support from congress and according to reports the new energy restrictions outlined in the Paris Agreement will lead to higher electricity rates and regulatory costs for U.S. producers and manufacturers and will put the country at a competitive disadvantage with the rest of the world as it competes for new markets to sell goods and services.

Speaking to a rally while celebrating his 100-day mark in Harrisburg Pennsylvania President Trump attacked that accord by calling it a bad deal for the United States, where the country would pay billions of dollars while the benefits would be enjoyed by others. He said that while the United States would pay billions of dollars, countries like China, Russia, and India would pay nothing. He said that such a deal is not going to happen under his watch and added that he will be making a big decision on the Paris accord over the next two weeks.

During his campaign, he has been very critical of the deal and compared it to another bad deal, which is Iran nuclear accord. While world leaders, especially in Europe have urged President Trump to abide by the deal, it increasingly looks like that it will meet its premature death in weeks to come.

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.