“In order to fulfil my solemn duty to the United States and its citizens, the US will withdraw from the Paris climate accord, but begin negotiations to re-enter either the Paris accords or a really entirely new transaction on terms that are fair to the United States,” the US president added.
Trump also mentioned that India makes its participation contingent on receiving billions of dollars in foreign aid.
Earlier, Trump had asserted that the deal would hit the US coal industry hard and that it would prove "too costly" for the US to stick to the Paris accord to reduce greenhouse gas emissions.
Trump's move could have a domino effect on the participation of other countries in limiting fossil-fuel pollution. As a presidential candidate, Trump had said he would “cancel” the Paris pact and “focus on real environmental challenges, not the phony ones we’ve been looking at”. ALSO READ: Trump likely to pull US out of Paris deal: What are the repercussions?