President Trump said he will institute the "highest level" of economic sanctions against Iran, and the United States will pull out of the deal.
"In a few moments, I will sign a presidential memorandum to begin reinstating US nuclear sanctions on the Iranian regime. We will be instituting the highest level of economic sanction," Trump said.
"Any nation that helps Iran in its quest for nuclear weapons could also be strongly sanctioned by the United States. America will not be held hostage to nuclear blackmail."
President Trump derided the Iran nuclear deal as an embarrassment that gave the regime dollars at the same time it sponsored terrorism.
"At the point when the US had maximum leverage, this disastrous deal gave this regime — and it's a regime of great terror — many billions of dollars, some of it in actually cash, a great embarrassment to me as a citizen."
President Trump used the Israeli argument, which Prime Minister Netanyahu delivered last week, in his argument to step away from the Iran deal, according to a draft of his speech. He does not, of course, mention the flaws and dated argument from Netanyahu.
“Last week, Israel published intelligence documents – long concealed by Iran – conclusively showing the Iranian regime’s history of pursuing nuclear weapons.”
"If I allowed this deal to stand, there would soon be a nuclear arms race in the Middle East. Everyone would want their weapons ready by the time Iran had theirs."