President Donald Trump tweeted Monday afternoon that he will be announcing his long-awaited decision on whether the US will be pulling out of the Iran deal tomorrow at 2 pm ET. The decision will be announced from the White House.
I will be announcing my decision on the Iran Deal tomorrow from the White House at 2:00pm.
— Donald J. Trump (@realDonaldTrump) May 7, 2018
As Bloomberg notes, Germany, France and the UK have lobbied Trump and his top aides to remain in the deal, which the president has frequently criticized. Trump has strongly hinted that he will withdraw from the agreement, and French President Emmanuel Macron said after meeting with Trump last month that he expects the US to exit the deal.
There’s been some speculation that Trump might continue pursuing negotiations even after ending the waiver on the US’s sanctions against Iran, using the period before the most draconian sanctions kick back in as leverage to try and achieve restrictions on Iran’s ballistic missile program.
The announcement triggered a “sell the news” reaction in oil.
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