U.S. President Donald Trump seldom takes any steps without drawing criticism. President Trump who was criticized for a breach in diplomatic protocols and security earlier this week is now drawing flak from European leaders and corporate firms in the United States. Some of the biggest firms in the U.S. have criticized Trump’s move to pull out of the Paris climate deal.

Corporate giants such as Facebook, General Electric, Walt Disney, and Goldman Sachs have reacted with dismay to the President’s decision. Trump says that he pulled out of the deal as a part of his “America First” policy.

However, companies state that this move will eventually affect US firms in a negative way and will become a hurdle in the path of international cooperation and innovation. The coal firms in the country, on the other hand, have lauded President Trump’s decision to pull out of the Paris climate deal by saying that the move will not only save many jobs but also make the regulations a little lenient.

Corporate leaders condemn Trump administration’s move

A number of U.S. firms issued statements to discourage President Trump from withdrawing from the international climate deal. However, since his announcement to withdraw, several companies expressed their disappointment on social media sites. General Electric’s chief executive Jeff Immelt, expressed his disappointment on Twitter by saying that climate change is real and its now turn for the industry to lead climate change strategies, rather than depending on the government.

Tesla’s CEO Elon Musk also declared that he would be quitting two seats on the advisory councils of the White House, following President Trump’s decision.

He further noted that climate change is real and America’s withdrawal from the Paris climate deal is not good for either the country or the world.

Robert Iger, chief executive of Walt Disney also announced that he too would be quitting his position of an advisor on White House’s advisory council.

What is the President’s take?

The U.S. President said that the Paris climate deal included voluntary commitments, which if he agreed to, would put the United States at a disadvantage. Trump also stated that he was willing to renegotiate the terms of the deal on different terms. He emphasized that as the President of the United States, he would always put his country at first.

U.S. coal lobby happy with decision

Although some energy firms such as the Chevron and Exxon Mobil persuaded the White House to stay in the deal, the U.S. coal lobby as a whole saw Trump’s withdrawal from the deal as a win.

Murray Energy, an Ohio-based coal mining company lauded President Trump’s move and stated that the decision is an important part of Trump’s administration, which will lead to the creation of broader environmental agenda.

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