Trump against the world over Paris deal
In a Rose Garden address on Thursday, Donald Trump announced his intention to withdraw from the Paris climate accord. He faced instantaneous backlash from CEOs like Mark Zuckerberg and foreign leaders like Emmanuel Macron — not to mention his predecessor Barack Obama.
The White House is spinning that as a positive, claiming Trump was standing up for the American worker, no matter what the rich and powerful may think. As he said in his speech: "I was elected to represent the citizens of Pittsburgh — not Paris."
- The U.S. is expected to exit via the formal withdrawal procedures included in the agreement, a process that could take three to four years to complete.
- U.S. will join Syria and Nicaragua as the only countries not in the deal.
- Trump aides were unsure until the last minute that he would go through with it. Read Jonathan Swan on what was going on behind the scenes
- Nationalists inside the White House prevailed over globalists. Read Amy Harder on why Trump decided to pull out.
Read more: Shane Savitsky on Trump's speech
White House: they'll negotiate
Trump: "So we're getting out, but we'll start to negotiate, we'll see if we can make a deal that's fair."
Senior White House officials: "Other countries and our allies have a strong interest in coming to an agreement with the US. There is no question that other countries are going to want to sit down with us and talk about a potential way forward."
Europe: not so fast
Leaders of France, Germany, Italy: "We deem the momentum generated in Paris in December 2015 irreversible and we firmly believe that the Paris Agreement cannot be renegotiated, since it is a vital instrument for our planet, societies, and economies."
France's Macron (speaking in English!): "The United States has turned its back on the world, but France will not turn its back on Americans."
Read more: Shane Savitsky on the reaction from Europe
Silicon Valley revolt
Silicon Valley isn't happy with President Trump's decision. Elon Musk said he'd leave advisory councils run by the White House — though other tech execs will stay on — while Mark Zuckerberg, Tim Cook and other major figures from around the industry expressed disappointment.
Why it matters: This is yet another divide between Trump and Silicon Valley, and discontent over the move in the Valley is reflective of a broader backlash in corporate America (Disney's Bob Iger is also leaving the advisory board, and even ExxonMobil opposed the move).
Read more: David McCabe on the techworld reaction
What the world is reading
- Earth to Trump: F*** You, Berliner Kurier, Germany
- Europeans defy Trump and reject Paris renegotiation, Süddeutsche Zeitung, Germany
- Trump passed on the best deal the planet has ever seen, The Guardian, U.K.
- Donald Trump, the grave-digger of America's credibility, Le Temps, Switzerland
- China and EU to tackle climate change together amid U.S. retreat, en.people.cn, China
- Israeli greens slam Trump's decision to withdraw from Paris Agreement, Jerusalem Post, Israel
"The nations that remain in the Paris Agreement will be the nations that reap the benefits in jobs and industries created. I believe the United States of America should be at the front of the pack. But even in the absence of American leadership; even as this Administration joins a small handful of nations that reject the future; I'm confident that our states, cities, and businesses will step up and do even more to lead the way, and help protect for future generations the one planet we've got."
Read more: full statement
White House pushback
- Topline: "The Paris Accord is a BAD deal for Americans"
- Keeping promises: "[T]he President's action today is keeping his campaign promise to put American workers first."
- The cost: Meeting the requirements in the Paris deal would cost the U.S. $3 trillion over the next several decades, plus the accord has a "UN Climate Slush Fund underwritten by American taxpayers"
- The lost jobs: By 2040 the economy would lose 6.5 million industrial sector jobs
For full coverage,
check out the Axios Stream
. We've got an exciting new vertical launching Friday on the future of work and the U.S. economy.