The president and his aides were finalizing the details of a pullout, an official said, insisting on anonymity to discuss the decision before an official announcement.
President Donald Trump is expected to announce his decision on whether to abandon the Paris climate accord Thursday. The ad said that climate change is both a "business risk" and a "business opportunity", and said continued participation in Paris will actually benefit the US economy and job growth.
Abandoning the pact would isolate the US from a raft of worldwide allies who spent years negotiating the 2015 agreement to fight global warming and pollution by reducing carbon emissions in almost 200 nations. It was the first legally binding global climate deal.
He also has a role in Trump's Manufacturing Jobs Initiative and defended his willingness to work with Trump last February as he prepared for his first meeting with White House officials amid intense backlash over the president's travel ban. For him, a withdrawal might be a way of making good on his pledge to put "America First", ahead of global obligations negotiated by his predecessors. But Trump's statement was clear and direct.
Trump's decision marked "a sad day for the global community", said Miguel Arias Canete, climate action commissioner for the European Union.
Trump has tweeted that he will announce his decision on the Paris deal on Thursday 3pm (US time). Calculations suggest withdrawal could result in emissions of up to 3 billion tons of additional carbon dioxide in the air a year - enough to melt ice sheets faster, raise seas higher and trigger more extreme weather. Virtually every nation voluntarily committed to steps aimed at curbing global emissions of "greenhouse" gases. He has called global warming a hoax aimed at hurting the USA economy.
Under former President Barack Obama, the USA had agreed to reduce emissions to 26 percent to 28 percent of 2005 levels by 2025 - about 1.6 billion tons.
President Trump, meanwhile, said in a 2012 tweet the concept of global warming was a "hoax" perpetuated by the Chinese government to make US manufacturing "non-competitive".
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The chief executives of dozens of companies have made last-minute appeals to Trump.
A USA pullout could have sweeping implications.
The Republican vowed at the time to "cancel" the Paris deal within 100 days of becoming president on January 20, part of an effort to bolster USA oil and coal industries.
White House economic adviser Gary Cohn said during Trump's first overseas trip that the carbon emission limitations the Obama administration agreed to "would be highly crippling to USA economic growth", and said if Trump had to choose between limiting carbon emissions and economic growth, "growing our economy is going to win".
"Despite the United States having been responsible for a massively disproportionate share of historic greenhouse gas emissions, it is now washing its hands of the situation while billions of the world's most vulnerable peoples will face the fatal consequences of rising sea levels, drought, desertification and failing crops". That promise helped rally supporters sharing his skepticism of global efforts to police USA carbon emissions.
Trump has repeatedly expressed doubts about climate change, at times calling it a hoax to weaken United States industry.
With China reaffirming its commitment to stay in the Paris agreement on Wednesday, many people inside and outside the USA predict that an American exit from a pact that affirms investments in clean energy would essentially give up global influence to other major powers like China and Russian Federation.
Pope Francis and several world leaders have also pressured Trump to ensure his permanence in the Paris deal. He also had to navigate a split among his advisers on the issue. Two sources told Fox News that he is expected to pull the USA out of the deal.
Trump's daughter, Ivanka, favors staying in, the official said, and has sought to ensure her father heard all sides in the debate.