Commerce Sec'y on Climate Pact: US Was Only Country Making Economic Sacrifice
Commerce Secretary Wilbur Ross joined Neil Cavuto on "Your World" to react to President Donald Trump pulling the U.S. out of the Paris Climate Accord.
Ross said that the pact, which aims to reduce fossil fuel emissions, is not about combating climate change, but instead about transferring wealth from the U.S. to other countries.
He said he expects that the global community will be upset with the U.S. withdrawing from the agreement.
"Anytime that people are taking money out of your pocket and you make them put it back in, they're not going to be happy," Ross said. "And that's what's happening here."
He explained that not only would the pact lead to millions of Americans losing their jobs in the coming years, but it also tasks the U.S. with reducing its carbon footprint by 20 percent.
Meantime, major polluters like China and India are under no environmental obligation for years, he said.
"The only ones who are making an economic sacrifice were the United States," Ross said. "That doesn't sound to me like a climate accord. It simply sounds like a transfer of wealth from the United States to other countries."
Watch more above.