Trump, who prides himself on his business savvy, called the accord the “latest example of Washington entering into an agreement that disadvantages the United States.” And he said it leaves “American workers, who I love, and taxpayers to absorb the cost in terms of lost jobs, lower wages, shuttered factories and vastly diminished economic production.”
Many American businesses, however, were swift to condemn Trump’s decision, saying it will have the exact opposite effect.
In a post on LinkedIn, Brad Smith, president and chief legal officer of Microsoft Corp., said “continued U.S. participation benefits U.S. businesses and the economy in important and multiple ways,” including strengthening competitiveness and creating new markets for clean technologies.
“And by strengthening global action over time, the Agreement reduces future climate damage to people and organizations around the world,” Smith wrote.
Facebook CEO Mark Zuckerberg said withdrawing is “bad for the environment, bad for the economy, and it puts our children’s future at risk.” Tackling the climate crisis, he added, can only happen via a global effort.
PepsiCo Inc., whose CEO, Indra Nooyi, sits on Trump’s business advisory council, called climate change “one of the most important issues of our time” and said the climate agreement “was designed as a framework to help…