"The same nations asking us to stay in the agreement are the countries that have collectively cost America trillions of dollars through tough trade practices and in many cases lax contributions to our critical military alliance", Trump added.
"We're getting out, but we will start to negotiate and see if we can make a deal that's fair", Trump said.
The President claimed the U.S. could re-enter "an entirely new transaction" but indicated that was hardly a priority, adding: "If we can, great".
Mr Trump claimed the Paris deal allows countries such as China and India to carry on polluting while the United States economy is harmed, complaining it is "less about the climate and more about other countries obtaining a financial advantage over the US".
The vast majority of scientists believe that global warming - bringing with it sharp changes in climate patterns - is mainly the result of human activities including power generation, transport, agriculture and industry.
"We deem the momentum generated in Paris in December 2015 irreversible and we firmly believe that the Paris Agreement can not be renegotiated, since it is a vital instrument for our planet, societies and economies", the leaders wrote.
Global leaders including the pope had pressed Trump not to follow through on an election campaign promise to abandon the accord, and they lamented his decision.
Mexican ministers said the world had a "moral imperative" to live up to the Paris commitments, while Brazil's foreign ministry said it was concerned and disappointed by Washington's move.
At an election campaign event in York, he said: "Given the chance to present a united front from our global partners she (Mrs May) has instead opted for silence and once again subservience to Donald Trump". Unsurprisingly, the decision to remove the USA from the Accord, which was signed by 195 countries has not gone down well. "There is no way", Macron said. This is a "mistake, both for the U.S. and for our planet", he continued.
People before Profit TD Brid Smith called on the incoming taoiseach to refuse any meeting with Mr Trump after withdrawal of the United States from the Paris treaty.
"The Prime Minister stressed that the United Kingdom remained committed to the Paris Agreement, as she set out recently at the G7", a spokesperson said.
"The Turnbull government is disappointed that the United States has notified that it will withdraw from this important worldwide agreement", the ministry said in a statement.
At the same time, the senior Russian lawmaker pointed out that Trump "never spoke against his European counterparts but he has heard so many things from them that he must be unwilling to hold talks with them". Time reports that at the North Atlantic Treaty Organisation summit last week, he and Donald Trump had a handshake showdown, with Macron reportedly gripping the USA president's hand until both their knuckles turned white.
He said he was fulfilling his "duty to protect America and its citizens".
Trump's "final, deliberative verdict was the same as his initial, gut-level one", the Post says, basing its "account of Trump's decision-making process" on interviews with "more than a dozen administration officials, Trump confidants, Republican operatives, and European diplomats".
"Our commitment to the Paris Agreement is unshakeable". "Deeply disappointed by USA decision, despite our efforts at G7".
"We will succeed because we are fully committed", he said.
China is the world's biggest polluter. The agreement attempts to curb global warming to less than 2 degrees Celsius by the end of the century.
The deal is partly legally binding and partly voluntary.
According to the agreement, by 2025, the United States was to reduce gas emissions by 26-28% in comparison with the levels seen ten years ago.
The 2015 agreement consisted of individual greenhouse gas limits each signatory nation determined for themselves.