He was asked about his business which is heavily invested in China, the number one producer of carbon emissions in the world, and how far would he go to force Beijing to reduce those emissions and tackle the climate crisis.
"You're not going to go to war with them. You have to negotiate with them and we have seen how well that works with tariffs that are hurting us. What you have to do is convince the Chinese that it is in their interest as well, their people are going to die just as our people are going to die and we will work together," Bloomberg said in his response.
The billionaire and philanthropist, who announced his presidential run only this year, asserted that the US was making a difference.
"We are closing the coal-fired power plants. If we and for some of the rules on fracking so that they don't release methane into the air and into the water you will make a big difference but we are not going to get rid of fracking for a while and we frac incidentally not just natural gas, you frac oil as well," he said.
The United States has already closed 304 out of the 530 coal fired power plants and 80 of them have been closed in Europe, he said.
"Let's start at the beginning. If you're President, the first thing you do the first day is you rejoin the Paris agreement. This is just ridiculous for us to drop out," Bloomberg said, adding that America's responsibility is to be the leader in the world.
"And, if we don't, we are going to be the ones that get hurt just as much as anybody else and that's why I don't want to have us cut off all relationships with China because you will never solve this problem without China and India, western Europe and America," he said.
Former vice president Joe Biden accused China of spreading pollution across the world.
"The idea of China and their Belt and Road proposal is they are taking the dirtiest coal in the world mostly out of Mongolia and spreading it around the world," he said.
"It is clear they make it clear when you call them to Washington in the first 100 days if you continue you will suffer severe consequences because the rest of the world will impose terror of sand on everything you are selling because you are undercutting the entire economy," Biden said.
In June 2107, US President Donald Trump today declared that the US will withdraw from the Paris climate accord, saying the "draconian" deal unfairly punished America but benefited countries like India and China.
"It is time to exit the Paris Accord and time to pursue a new deal that protects the environment, our companies, our citizens, and our country," Trump had said, dampening global efforts to curb global warming.
"India makes its participation contingent on receiving billions and billions and billions of dollars in foreign aid from developed countries. There are many other examples. But the bottom line is that the Paris accord is very unfair, at the highest level, to the United States," Trump said.
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