But for an embattled president, it does do one thing: It fulfills a campaign promise popular with his base.
If Trump does indeed pull the U.S. from the deal, the country will join Syria and Nicaragua as the only nations not to ratify the historic accord. The U.S. took a lead role in brokering the agreement, and leaving it would be a deeply isolationist move that could weaken the nation’s bargaining power in other agreements.
The economic consequences could be worse. The United Nations estimates that the U.S. stands to lose jobs in the rapidly growing clean energy industry ― estimated to be worth $6 trillion by 2030 ― to Europe, India and China. Countries that tax emissions may put tariffs on American-made imports. And big companies that expect the U.S. to eventually regulate carbon are likely to see ditching the deal as delaying the inevitable, while also sowing the sort of instability that investors don’t like.
The decision would also defy the desires of many major corporate and fossil fuel interests. Oil giants including Exxon Mobil Corp. and Royal Dutch Shell have pleaded with the administration to stay in the deal, as have coal producers and corporate behemothssuch as Walmart, General Mills and DuPont, all of which operate internationally.
But by canceling the deal, Trump will make good on a 2016 pledge, appeasing ardent supporters and a small group of donors. He’d also win the approval of a handful of congressmen who made their names railing against widely accepted science.
WHAT ELSE IS HAPPENING?
A draft of the Trump administration’s new birth control coverage exemption has leaked, and it is far more wide-reaching than had been predicted. The new rule will allow any employer, school or insurance company to opt out of covering contraception due to any moral or religious objection.
As Trump’s aides touted his alliance-building during the president’s first trip abroad, European leaders mocked and disparaged him. Allies are saying they can no longer depend on America.
Most Americans think President Donald Trump hurts his own cause when he speaks on behalf of the White House, according to a new Monmouth University survey. Sixty-one percent say Trump does more to hurt than help the presidency by speaking out, with just a third of those polled seeing his statements as mostly helpful.
Trump’s immigration crackdown is pushing victims of abuse underground. Immigrants who face sexual assault and domestic violence are avoiding police and dropping court cases, a new survey shows.
One official tried to warn us about attacks like Portland. He was pushed out.
This is how the GOP health care bill will affect insurance premiums next year.