More than 80 percent of the US economy is dependent on the oil and gas industry, and Trump’s decision to pull the US out of the Paris climate agreement has sent oil prices soaring.
According to a new survey by a Washington-based private research firm, the US is set to lose a total of 930,000 jobs in the next 10 years due to the withdrawal from the agreement.
“We are going to lose jobs,” Trump told reporters on Wednesday.
“We’re going to see millions and millions of jobs taken out of our country, we’re going see hundreds of millions of people laid off, millions and thousands of jobs.
It’s going to be an economic disaster.”
The report, released on Thursday, shows that fewer than one-third of the jobs lost during the economic downturn were permanent, meaning they were not linked to the loss of a job.
“While the recession hit the American economy hard, the United States has also had a significant number of job losses due to economic uncertainty and uncertainty over trade and global economic conditions,” the survey found.
The US has already lost more than 200,000 manufacturing jobs since 2009, and economists expect the economy will shrink by more than a quarter during Trump’s presidency.
But while the US has lost more jobs than any other country on the planet, the jobs are being created in ways that are not reflected in the overall US economy.
Trump’s announcement on Thursday is likely to boost the popularity of a populist, anti-globalisation movement that has swept over Europe, especially France.
It has led to demonstrations in cities across the continent, and some in the US have called for a boycott of the country over Trump’s plans.
The survey, however, found that people across the political spectrum support the US withdrawing from the Paris agreement, which will prevent the world’s most powerful country from cutting emissions and limiting its rise in temperature.
“This report is very important for the American people, especially because the American political system is very fragmented,” said Chris Wood, the co-founder of the polling firm.
“They can’t vote on issues that are in their own interest and are not directly impacting them.”
Trump said he has been given the green light to pull out of a deal with China that had already cost the US more than $200 billion.
“The Paris Accord is no longer necessary, and the US will be withdrawing from it,” Trump said.
“If we do not follow through on the agreement, China is going to have to get a better deal from us.”
Wood said that while the Paris deal had been a big factor in the economic recovery, it was unlikely to cause the United State to see a significant increase in job losses.
“It’s a very small part of the overall story,” he said.
“But there is also a strong economic message coming out of this.
There is no reason for this to cause significant job losses.”