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MLex Market Insight

The US decision to leave the Paris Climate Agreement

MLex Market Insight

MLex Market Insight

News

4.99 Ratings

🗓️ 2 June 2017

⏱️ 6 minutes

🧾️ Download transcript

Summary

We’ll always have Paris – or will we? MLex Senior Energy Correspondent Laurel Henning and Brussels Managing Editor James Panichi talk about Donald Trump’s decision on Thursday June 1 to pull the world’s largest economy out of a UN climate accord designed to cut global carbon emissions, and reaction across Europe and the world.

Transcript

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0:00.0

Well, we will always have Paris, or will we? I'm James Panicki, the Brussels managing editor here at

0:06.4

Emlex, and over the past day we've been grappling with the fallout from the US government's

0:11.0

decision to pull out of the Paris Climate Agreement. That's the UN Climate Accord for the

0:16.4

reduction of greenhouse gas emissions. Our senior energy correspondent Laurel Henning covered the nuts and bolts

0:22.6

of the news over the past day or so, but as regular readers and listeners know, Laurel has paved

0:28.4

the way for our coverage over the past few months with some fine analysis of what a US withdrawal

0:34.2

would mean. And it's about more than just climate policy, obviously. There are

0:38.4

geopolitical implications to this decision as well, particularly with China eager to play a larger

0:43.8

role in the international push to greenhouse gas emissions. And Laurel has covered that extensively

0:48.9

in the past as well. So Laurel, here we are again talking about the impact of Donald Trump

0:53.2

on international emissions reduction efforts.

0:56.0

Welcome back.

0:56.7

Thank you, James.

0:57.5

It's all deja vu.

0:59.2

Now, what exactly did Donald Trump announce over the past day?

1:03.5

So in the Rose Garden of the White House, last night for us in Brussels and yesterday afternoon,

1:08.0

for those of you listening in the US, Donald Trump said that he was

1:11.7

pulling the US out of an unfair deal for America, a deal that would hurt US taxpayers,

1:19.4

households, businesses, and a deal that would lead to what he said were 2.7 million job cuts

1:27.0

by 2025.

1:29.3

And so there was a clear national agenda there who said,

1:33.1

I'm doing this for the United States, this is the right thing for the United States,

...

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