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Trump is pulling America out of the Paris agreement, putting the U.S. in the company of only Nicaragua and Syria. That could make it harder for the U.S. to strike trade deals, because of the precedent set by Europe and Japan.

"They have signaled that future trade agreements will include Paris as part of the rules," said Celine Bak, climate policy expert and senior fellow at the Centre for International Governance Innovation, an independent think tank based in Canada.

If the U.S. isn't able to commit to the Paris agreement, potential trade partners may look elsewhere, Bak said.

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