Trump Signals US Is Likely To Exit Paris Climate Deal

June 1, 2017

Washington, Jun 1: President Donald Trump is still undecided but leaning toward withdrawing the United States from the landmark Paris climate agreement, White House officials said Wednesday, a move that would honor a campaign vow but risk rupturing global alliances and disappointing both environmentalists and corporate titans.donald

Although officials warned that Trump's thinking could shift before he announces his decision Thursday, a U.S. exit from the climate pact could have severe ramifications internationally. It could raise doubts about the commitment of the world's largest economy to curbing global warming and make it more difficult to hold other nations to their environmental commitments.

All but two countries - Nicaragua and Syria - signed onto the 2015 accord, which was a signature diplomatic achievement for President Barack Obama.

The Paris agreement has long divided the Trump administration, with the president taking much of the spring to make up his mind amid an intense campaign by both sides to influence his decision.

Secretary of State Rex Tillerson and Ivanka Trump, the president's daughter and adviser, are among those who have urged him to stay in the deal. White House chief strategist Stephen Bannon and Environmental Protection Agency Administrator Scott Pruitt have pushed for a withdrawal, which wouldn't actually be finalized until near the end of Trump's term.

Although the White House signaled that Trump was likely to announce an exit from the Paris accord, it made no public announcement Wednesday. Trump tweeted that he would announce his decision Thursday at 3 p.m. in the White House Rose Garden. The president has a history of changing his mind at the last minute, as he did in deciding not to pull out of the North American Free Trade Agreement after aides had suggested he would.

All day, senior administration officials cautioned that Trump had not yet made a final decision on the climate pact - and the president himself seemed eager to maintain the suspense.

"You're going to find out very soon," Trump told reporters Wednesday, in response to questions during a brief Oval Office appearance with Vietnamese Prime Minister Nguyen Xuan Phuc.

Asked whether he had been hearing from CEOs trying to persuade him, Trump said, "I'm hearing from a lot of people, both ways." More than 190 nations agreed to the accord in December 2015 in Paris, and 147 have since formally ratified or otherwise joined it, including the United States - representing more than 80 percent of the world's greenhouse gas emissions.

The United States is the world's second-largest emitter of greenhouse gases. Under the Paris agreement, the United States promised to reduce its emissions 26 percent to 28 percent below their 2005 levels by 2025. As of 2015, emissions were 12 percent lower, according to the U.S. Energy Information Administration.

Hard-line conservatives have sought to convince Trump that meeting this target would be harmful to the bottom lines of U.S. businesses and would jeopardize manufacturing jobs, especially in the Midwest and other regions where Trump found deep support in last year's election.

They also have argued that staying in the Paris agreement could be used as a legal tool by environmental groups seeking to fight Trump's environmental policies.

In addition, a group of 22 Republican senators - including Senate Majority Leader Mitch McConnell, R-Ky., - wrote to Trump urging "a clean break" from the Paris agreement.

But Tillerson and other internationalists have argued that it would be beneficial to the United States to remain part of negotiations and meetings surrounding the agreement as a matter of leverage and influence.

A broad range of outsiders have lobbied Trump to remain part of the global pact, from former vice president Al Gore to Pope Francis. The administration's debate has triggered an outpouring of lobbying from corporate America as well, as Apple, ExxonMobil and other major companies have strongly supported the accord.

During Trump's maiden foreign trip last week, a number of European leaders sought to persuade Trump of the magnitude of the climate change crisis and the importance of American leadership to address it.

Gary Cohn, the National Economic Council director, told reporters last week that Trump "wants to do the right thing for the environment. He cares about the environment. But he also cares very much about creating jobs for American workers." He added, "If those things collide, growing our economy is going to win. The president ran on growing our economy."

As a candidate, Trump railed against the Paris accord and pledged to scrap it, as part of his "America First" agenda to promote economic nationalism and disentangle the United States from international agreements that he considers harmful.

Trump also said he thought climate change was a "hoax." Asked by a reporter Wednesday whether he still believes so, the president said only, "Thank you, everybody."

News reports Wednesday that Trump was expected to withdraw from the Paris accord sparked swift and strong reactions.

Elon Musk, the chief executive of Tesla and a member of a White House manufacturing jobs advisory board, tweeted that if Trump does exit, he would have "no choice" but to end his affiliations with the administration.

Mitt Romney, the 2012 Republican presidential nominee and one of Trump's finalists for secretary of state, tweeted, "Affirmation of the #ParisAgreement is not only about the climate: It is also about America remaining the global leader."

Sen. Michael Bennet, D-Colo., said leaving the Paris agreement would amount to an "abdication" of American values.

"This would be yet another example of President Trump's 'Putting America Last' agenda - last in innovation, last in science, and last in international leadership," Bennet said in a statement.

Others cheered the notion that Trump might soon kill the climate agreement that had been an Obama legacy item.

"President Trump's decision sends a strong message to the environmentalist movement: no longer will the United States be strong armed by their scare tactics intended to harm our economy and inhibit economic growth," David McIntosh, president of the Club for Growth, a conservative political action group, said in a statement.

A party that has fully joined the accord, as the United States has, cannot formally withdraw for three years after the agreement was entered into force in 2016 - and that is capped by an extra year-long waiting period. Under those rules, Trump could not complete a U.S. exit from the agreement until Nov. 4, 2020 - the day after the next presidential election.

European Commission President Jean-Claude Juncker said he tried to explain to Trump during their climate discussions last week that withdrawing from the pact was no simple task.

"Not everything in international agreements is 'fake news,' " Juncker said Wednesday. He added, "This notion, 'I am Trump, I am American, 'America First' and I'm going to get out of it' - that won't happen. We tried to explain that to Mr. Trump in Taormina in clear German sentences. It seems our attempt failed." Taormina is the Sicilian resort town where the Group of Seven leaders met last week.

Trump also could opt to withdraw from the more foundational U.N. Framework Convention on Climate Change, which laid the groundwork for the Paris deal and was signed by President George H.W. Bush and ratified by the Senate in the early 1990s.

But that is a more radical move, which would further withdraw the United States from all international climate change negotiations.

The Trump administration already has rolled back key Obama administration initiatives through executive action, including the EPA's Clean Power Plan, which was a key part of the U.S. promise through the Paris agreement. These policies have made it highly unlikely that the United States could honor its Paris pledge to sharply cut carbon dioxide emissions.

That leaves Trump with two clear choices: withdraw from the Paris agreement or revise the U.S. emissions targets downward to a more achievable level while remaining in the pact.

A downward revision would certainly prompt criticism from the international community, but not nearly so much as an abandonment. The Paris agreement is, after all, the first global accord on climate change action that has managed to unify both developed and developing nations behind a single framework to cut emissions.

Moreover, the accord is flexible in the sense that it does not mandate that any nation achieve any particular level of emissions cuts. Rather, every nation under the agreement pledges to do the best it can, and to participate in a process in which nations will regularly increase their ambitions over time.

The ultimate goal of the Paris agreement is to hold the warming of the planet to "well below" two degrees Celsius (3.6 degrees Fahrenheit) of warming above the temperatures found in the preindustrial times of the late 1800s. The Earth is already about one degree Celsius (1.8 degrees Fahrenheit) warmer than it was at that time, scientists have determined, and current and near future emissions seem quite likely to take the planet past 1.5 degrees Celsius (2.7 degrees Fahrenheit) in the coming decades.

Recent research has highlighted that above 2 degrees, major threats could ensue for Earth systems ranging from coral reefs to the planet's vast ice sheets.

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News Network
July 27,2020

Tokyo, Jul 27: Gold hit an all-time high on Monday as tit-for-tat consulate closures in China and the United States rattled investors, boosting the allure of safe-haven assets, although sentiment was mixed with tech gains supporting some Asian stocks.

MSCI's ex-Japan Asia-Pacific index rose 1.3 percent as Taiwan's TSMC, Asia's third-largest company by market capitalisation, rose almost 10 percent.

The chipmaker's gains boosted other tech stocks in the region and came after rival Intel signalled it may give up manufacturing its own components due to delays in new 7-nanometer chip technology.

Also soothing sentiment, Chinese shares eked out gains after big falls late last week, with CSI300 index rising 0.5 percent.

S&P500 futures were last up 0.4 percent in choppy trade while Japan's Nikkei fell 0.5 percent, resuming trade after a long weekend and catching up with falls in global shares late last week.

Global shares had lost steam last week after Washington ordered China's consulate in Houston to close, prompting Beijing to react in kind by closing the US consulate in Chengdu.

US Secretary of State Mike Pompeo took fresh aim at China last week, saying Washington and its allies must use "more creative and assertive ways" to press the Chinese Communist Party to change its ways.

"US President (Donald) Trump used to say China's President Xi Jinping is a great leader. But now Pompeo's wording is becoming so aggressive that markets are starting to worry about further escalation," said Norihiro Fujito, chief investment strategist at Mitsubishi Securities.

Gold rose 1.0 percent to a record high of $1,920.9 per ounce, surpassing a peak touched in September 2011, as Sino-US tensions boosted the allure of safe-haven assets, especially those not tied to any specific country.

The yellow metal is also helped by aggressive monetary easing adopted by many central banks around the world since the pandemic plunged the global economy into a recession.

Some investors fret such an unprecedented level of money-printing could eventually lead to inflation.

MORE STIMULUS

Hopes of a quick US economic recovery are fading as coronavirus infections showed few signs of slowing.

That means the economy could capitulate without fresh support from the government, with some of earlier steps such as enhanced jobless benefits due to expire this month.

Investors hope US Congress will agree on a deal before its summer recess but there are some sticking points including the size of the stimulus and enhanced unemployment benefits.

US Treasury Secretary Steve Mnuchin said the package will contain extended unemployment benefits with 70 percent "wage replacement".

Democrats, who control the House of Representatives, want enhanced benefits of $600 per week to be extended and look to much bigger stimulus compared with the Republicans' $1 trillion plan.

Investors are looking to corporate earnings from around the world for hints on the pace of recovery in the global economy.

"It looks like rising coronavirus cases are starting to slow down recovery in many countries," said Masahiro Ichikawa, senior strategist at Sumitomo Mitsui DS Asset Management.

Concerns about the US economic outlook started to weigh on the dollar, reversing its inverse correlation with the economic well-being over the past few months.

The dollar index dropped 0.3 percent to its lowest level in nearly two years.

The euro gained 0.3 percent to $1.1693, hitting a 22-month high of $1.16590 as sentiment on the common currency improved after European leaders reached a deal on a recovery fund in a major step towards more fiscal co-operation.

Against the yen, the dollar slipped 0.5 percent to 105.605 yen, a four-month low while the British pound hit a 4 1/2-month high of $1.2832.

Oil prices dipped on worries about the worsening Sino-US relations.

Brent futures fell 0.46 percent to $43.14 per barrel while US crude futures lost 0.44 percent to $41.11.

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News Network
July 17,2020

Jul 17: US President Donald Trump has said that he wants to do everything possible to keep peace for the people of India and China, according to his spokesperson

Over the past several weeks, the Trump administration has come out in support of India against China.

“He (Trump) said I love the people of India and I love the people of China and I want to do everything possible to keep the peace for the people,” White House Press Secretary Kayleigh McEnany told reporters at a news conference here on Thursday.

She was responding to a question on Trump’s message to India, which recently had a standoff with China in eastern Ladakh along the Line of Actual Control.

Earlier in the day, White House Economic Advisor Larry Kudlow described India as a great ally, saying President Trump is a great friend of Prime Minister Narendra Modi.

On Wednesday, Secretary of State Mike Pompeo said that India has been a great partner of the US.

“India has been a great partner… They are an important partner of ours. I have a great relationship with my foreign minister counterpart. We talked frequently about a broad range of issues. We talked about the conflict they had along the border with China. We've talked about the risk that emanates from the Chinese telecommunication infrastructure there,” Pompeo told reporters in response to a question.

Travelling in Europe, US National Security Advisor Robert O’Brien told reporters that China has been very aggressive with India.

O’Brien said that India is a democracy and is a great friend of the United States. Prime Minister “Modi and President Trump have a super relationship,” he said.

“In fact, it was the last foreign trip that I took with the president before the COVID-19 crisis hit, was to India, and we had a great reception of the Indian people there. We have a lot in common with them, we speak English, we're democracies. We've got a growing, very strong relationship with India,” O’Brien said.

Welcoming the White House statement, Al Mason, co-chair of the Trump Victory Indian American Finance Committee, said that unlike his predecessor, President Trump has come out openly in support of India.

“Most of the Indian-Americans have observed that every earlier president - be it a Democrat or Republican, like Clinton or Bush Senior or Bush Jr or Obama have been very scared to side with India openly, for fear of hurting China.

“Only President Trump has had the courage to say that… I love India, America respects India… US stands with India - and that also, to over one billion Indians in India at the Namaste Trump rally held in India… and that too… near India’s neighbour China,” Mason said in a statement.

“And he is consistent in his love for India and Indian-Americans,” he added.

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News Network
April 15,2020

Wuhan, Apr 15: In the six days after top Chinese officials secretly determined they likely were facing a pandemic from a new coronavirus, the city of Wuhan at the epicenter of the disease hosted a mass banquet for tens of thousands of people; millions began traveling through for Lunar New Year celebrations.

President Xi Jinping warned the public on the seventh day, Janaury 20. But by that time, more than 3,000 people had been infected during almost a week of public silence, according to internal documents obtained by The Associated Press and expert estimates based on retrospective infection data.

That delay from Jan 14 to Jan. 20 was neither the first mistake made by Chinese officials at all levels in confronting the outbreak, nor the longest lag, as governments around the world have dragged their feet for weeks and even months in addressing the virus.

But the delay by the first country to face the new coronavirus came at a critical time — the beginning of the outbreak. China's attempt to walk a line between alerting the public and avoiding panic set the stage for a pandemic that has infected almost 2 million people and taken more than 126,000 lives.

A This is tremendous, a said Zuo-Feng Zhang, an epidemiologist at the University of California, Los Angeles. If they took action six days earlier, there would have been much fewer patients and medical facilities would have been sufficient. We might have avoided the collapse of Wuhan's medical system.

Other experts noted that the Chinese government may have waited on warning the public to stave off hysteria, and that it did act quickly in private during that time.

But the six-day delay by China's leaders in Beijing came on top of almost two weeks during which the national Center for Disease Control did not register any cases from local officials, internal bulletins obtained by the AP confirm. Yet during that time, from Jan 5 to Jan 17, hundreds of patients were appearing in hospitals not just in Wuhan but across the country.

It's uncertain whether it was local officials who failed to report cases or national officials who failed to record them. It's also not clear exactly what officials knew at the time in Wuhan, which only opened back up last week with restrictions after its quarantine.

But what is clear, experts say, is that China's rigid controls on information, bureaucratic hurdles and a reluctance to send bad news up the chain of command muffled early warnings. The punishment of eight doctors for rumor-mongering, broadcast on national television on Jan. 2, sent a chill through the city's hospitals.

Doctors in Wuhan were afraid, said Dali Yang, a professor of Chinese politics at the University of Chicago. It was truly intimidation of an entire profession. Without these internal reports, it took the first case outside China, in Thailand on Jan 13, to galvanize leaders in Beijing into recognising the possible pandemic before them. It was only then that they launched a nationwide plan to find cases distributing CDC-sanctioned test kits, easing the criteria for confirming cases and ordering health officials to screen patients, all without telling the public.

The Chinese government has repeatedly denied suppressing information in the early days, saying it immediately reported the outbreak to the World Health Organization.

Allegations of a cover-up or lack of transparency in China are groundless, said foreign ministry spokesman Zhao Lijian at a Thursday press conference.

The documents show that the head of China's National Health Commission, Ma Xiaowei, laid out a grim assessment of the situation on Jan. 14 in a confidential teleconference with provincial health officials.

A memo states that the teleconference was held to convey instructions on the coronavirus from President Xi Jinping, Premier Li Keqiang and Vice Premier Sun Chunlan, but does not specify what those instructions were.

The epidemic situation is still severe and complex, the most severe challenge since SARS in 2003, and is likely to develop into a major public health event, the memo cites Ma as saying.

The National Health Commission is the top medical agency in the country. In a faxed statement, the Commission said it had organised the teleconference because of the case reported in Thailand and the possibility of the virus spreading during New Year travel. It added that China had published information on the outbreak in an open, transparent, responsible and timely manner," in accordance with important instructions repeatedly issued by President Xi.

The documents come from an anonymous source in the medical field who did not want to be named for fear of retribution. The AP confirmed the contents with two other sources in public health familiar with the teleconference. Some of the memo's contents also appeared in a public notice about the teleconference, stripped of key details and published in February.

Under a section titled sober understanding of the situation, the memo said that clustered cases suggest that human-to-human transmission is possible. It singled out the case in Thailand, saying that the situation had changed significantly because of the possible spread of the virus abroad.

With the coming of the Spring Festival, many people will be traveling, and the risk of transmission and spread is high, the memo continued.

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