Signal US exits the Paris Agreement and rolls back green tax credits

Summary

On the first day of his second term, President Trump signed an executive order titled Unleashing American Energy, dismissed climate change as a hoax and announced withdrawal from the Paris Agreement. A further order putting US interests first in international environmental agreements formalised the exit, and Washington halted or withdrew all financial support to bodies linked to the UN climate convention. The One Big Beautiful Bill Act of July 2025 sharply cut climate-related tax credits, including the repeal of EV credits worth 192 billion dollars and limits on green energy investment and production credits worth 246 billion dollars. The administration has threatened tariffs, visa curbs and port fees against countries backing an IMO agreement to cut shipping emissions. It has also pressed most countries in tariff negotiations to import more US crude oil and LNG.