US to officially exit Paris climate agreement

The United States has told the United Nations it has begun the process of pulling out of the landmark 2015 Paris climate agreement.

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Secretary of State Mike Pompeo said Monday that he submitted a formal notice to the U.N. That starts a withdrawal process that does not become official for one year.

"President Trump made the decision to withdraw from the Paris Agreement because of the unfair economic burden imposed on American workers, businesses, and taxpayers by U.S. pledges made under the Agreement," Pompeo wrote in a statement announcing the decision.

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“We’ve received the withdrawal notification,” a spokesperson for the UN Secretary General told Fox Business.

Nearly 200 nations signed the climate deal in which each country provides its own goals to curb emissions of heat-trapping gases that lead to climate change.

Pompeo added that the U.S will continue to participate in "international climate discussions," but said it would do so in under a "realistic and pragmatic model – backed by a record of real world results – showing innovation and open markets lead to greater prosperity, fewer emissions, and more secure sources of energy."

In this July 27, 2018 photo, the Dave Johnson coal-fired power plant is silhouetted against the morning sun in Glenrock, Wyo. The Trump administration on Tuesday proposed a major rollback of Obama-era regulations on coal-fired power plants, striking

The Trump administration has embraced a mix of energy sources, including fossil fuels and renewables like nuclear power.

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The U.S. is the first nation to pull out of the deal. Agreement rules prevented a country from pulling out in the first three years after the Nov. 4, 2016, ratification.

The Associated Press contributed to this report.