We have one of the richest energy reserves on the planet, which are enough to lift millions of America`s poorest workers out of poverty. But under this agreement, we are effectively locking up these reserves and taking the great wealth of our nation – it is great wealth, it is phenomenal wealth; Not so long ago, we had no idea that we had such wealth, leaving millions and millions of families trapped in poverty and unemployment. If the obstructionists want to meet me, let`s make them non-obstructionists. We`re all going to sit down, and we`re going to get back to the deal. And we will do well, and we will not close our factories, and we will not lose our jobs. And we`re going to meet with the democrats and everyone who represents either the Paris Agreement or something we can do that is much better than the Paris Agreement. And I think the people of our country will be delighted, and I think the people of the world will be delighted. But until we do, we will be out of the agreement. No responsible leader can inflict this crippling and enormous disadvantage on the workers – and the people – in their country. The fact that the Paris Agreement is holding the U.S. back while it strengthens some of the world`s most polluting countries should dispel any doubt as to why foreign lobbyists want to keep our great country tied and bound by this agreement: it`s about giving their country an economic advantage over the United States.
It won`t happen as long as I`m president. I am sorry. (Applause) The risks are increasing because, historically, these agreements are becoming more and more ambitious over time. In other words, the Setting of Paris is a starting point, as bad as it is, not an end point. And exiting the deal protects the U.S. from future attacks on U.S. sovereignty and from massive future legal liability. Believe me, we have a huge legal responsibility if we stay inside. The same nations that are asking us to stay in the agreement are the countries that together have cost America billions of dollars through harsh trade practices and, in many cases, lax contributions to our critical military alliance.
You see what`s going on. This is pretty obvious for those who want to keep an open mind. China will be allowed to build hundreds of additional coal-fired power plants. So we cannot build the facilities, but they can do so, in accordance with this agreement. India is allowed to double its coal production by 2020. Remember that India can double its coal production. I want us to get rid of ours. Europe can also continue to build coal-fired power plants.
For example, under the deal, China will be able to increase these emissions by an astonishing number of years – 13. They can do whatever they want for 13 years. Not us. India conditions its participation on receiving billions and billions and billions of dollars in foreign aid from developed countries. There are many other examples. But at the end of the day, the Paris Agreement at the highest level is very unfair to the United States. That is why the United States will cease today all implementation of the non-binding Paris Agreement and the draconian financial and economic burdens that the agreement imposes on our country. This includes halting the implementation of the national contribution and, very importantly, the Green Climate Fund, which is costing the United States a huge fortune. In short, the agreement does not eliminate coal jobs, it only relocates those jobs from the United States and the United States and ships them overseas. This agreement is not so much about the climate as it is about other countries gaining a financial advantage over the United States. The rest of the world applauded when we signed the Paris Agreement – they went wild; They were so happy – for the simple reason that it put our country, the United States of America, which we all love, into a very, very great economic disadvantage.