In a slightly more cautious report, CBS says the president is expected to withdraw from the accord, but has also has discussed with senior White House staff an effort to renegotiate the agreement with an eye to making its provisions less onerous to US industry.
Trump's position on the Paris accord was a focal point of last week's G7 summit in Sicily in which leaders of the world's six other largest industrial democracies pressed him to renew the United States commitment to the deal.
In the past, Trump has called climate change a hoax and on Wednesday he tweeted that he would reach his decision in a few days. Axios previously reported on Sunday that Trump was mulling a withdrawal from the agreement, but was undecided.
Chinese Premier Li Keqiang arrives in Brussels late Thursday for talks with EU president Donald Tusk and European Commission head Jean-Claude Juncker, with climate change at the top of the agenda.
The U.S.is the world's second-largest emitter of greenhouse gases, according to the EPA.
Musk has taken heat for sitting on a presidential business advisory team and being involved in a USA manufacturing-jobs initiative.
During his presidential campaign, Trump threatened to cancel America's involvement.
The report of the apparent decision comes hours after the UN Secretary-General Antonio Guterres urged the U.S. to remain within the Paris Agreement, which seeks to limit global warming to as close to 1.5 degrees Celsius as possible. "If you leave a void for others to occupy, you might be creating a problem to your own internal security".More news: These Eighth Graders Refused to Pose For a Photo With Paul Ryan
More news: National Spelling Bee becoming easier to predict
More news: Ernesto Valverde succeeds Luis Enrique at Barcelona
After news of the upcoming decision broke, politicians, celebrities, and a famous astronaut hopped online to share their concern for lack of a prominent USA role in climate leadership.
Pulling out of the agreement puts the U.S.in bed with Russian Federation as the only two industrialized economies rejecting the accord.
Shortly after the news broke Wednesday, the United Nations official account tweeted a note from U.N. Secretary General Antonio Guterres: "Climate change is undeniable".
Word of Trump's expected decision comes a day after the president met with Scott Pruitt, the administrator of the Environmental Protection Agency.
Signed a little more than year ago by 195 nations, the Paris deal is meant to mitigate greenhouse gas emissions and is seen as one of former President Barack Obama's biggest triumphs.
"The Paris agreement establishes the enduring framework the world needs to solve the climate crisis", Obama said, speaking from the White House.