Trump said in a Twitter post on Wednesday night that he would make the announcement at 3 p.m. EDT (1900 GMT) on Thursday in the White House Rose Garden, ending his tweet with "MAKE AMERICA GREAT AGAIN!"
When asked about the US' possible move Thursday, a spokesperson for China's Ministry of Foreign Affairs described climate change as a global challenge that no one country can ignore.
"He didn't want to do anything to put the U.S.at a disadvantage", Cohn said.
As a technology executive who has cited climate change as a key reason behind his push for electric vehicles, Musk has a personal and professional stake in the United States' climate-change policies.
The White House signaled that Trump was likely to decide on exiting the global pact - fulfilling one of his principal campaign pledges - though top aides were divided.
The Accord was an agreement among members of the United Nations to curb carbon emissions in an effort to combat climate change.
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Backing out of the agreement that way would take time, but would make it easier for the U.S. to return to climate change negotiations if a future administration would want to, says Andrew Light, a senior fellow at the World Resources Institute and a professor at George Mason University.
In response to a question referencing Trump, Li responded: "Fighting climate change is a global consensus, not invented by China".
"[The US] can still keep some kind of presence in the negotiations, just as we did after we didn't ratify the Kyoto Protocol, and serve as a placeholder for the US to eventually re-enter the world community on this issue", Light says. For example, there are no sanctions if the United States breaks its promise of reducing greenhouse gas emissions 26% to 28% below 2005 levels by 2025.
Following a G7 summit in Taormina, Sicily, she told reporters that "the entire discussion about climate was very hard, if not to say very dissatisfying". The United States would join Syria and Nicaragua as the world's only non-participants in the landmark 195-nation accord agreed upon in Paris in 2015.
The European Union and China indicated they would press ahead with the deal, regardless of United States participation.
"This is not a short-term policy under one single administration, this is a century-long in which there will be changes in the American administration", Canete said, referring to the USA elections cycle.
European Commission President Jean-Claude Juncker also warned Trump against exiting the Paris climate change deal - a treaty ratified by the United States past year - in a speech Wednesday, declaring: "The law is the law, and everyone must adhere to it".