Updated at 6:36 p.m. ET
President Trump announced Tuesday that he has decided to exit a 2015 multinational agreement in which Iran agreed to limit its production of nuclear weapons material.
“I am announcing today that the United States will withdraw from the Iran nuclear deal,” Trump said.
He said the U.S. will reimpose economic sanctions that were lifted as part of the U.S. commitments made in the deal.
The U.S. has been repeatedly waiving sanctions that curtail Iran’s oil sales, but those sanctions waivers faced a Saturday deadline, prompting Trump’s move Tuesday.
Trump made the announcement during a speech at the White House.
“The fact is this was a horrible one-sided deal that should have never, ever have been made,” he said.
“It didn’t bring calm, it didn’t bring peace, and it never will,” he also said.