Trees remove some of this carbon dioxide from the air through photosynthesis and store that carbon in their tissues and in the soil. Deforestation reduces the removal component of this cycle, further increasing the carbon dioxide in the air. This results in an increase in temperature, an effect known as global warming.
You need to add a picture to let us answer the question.
The carbon dioxide levels would go down because, in plants, chloroplasts convert carbon dioxide into glucose with oxygen produced as a byproduct.