A White House spokesperson says that deal should address Tehran's ballistic missile program, tighten inspections, eliminate the agreement's sunset clauses and limit Iran to a one year breakout to obtain a nuclear weapon.
Despite the agreement's extension, the Treasury Department announced a variety of new sanctions against Tehran, specifically targeting the regime's human rights abuses and support of terror organizations.
Chinese Foreign Minister Wang Yi told Iranian Foreign Minister Mohammad Javad Zarif by phone that implementation of the deal had not been "derailed" but would face "some new complicating factors", the state news agency Xinhua reported.
The biggest name included in the new sanctions was Sadeq Larijani, head of the Iranian judiciary and brother of Ali Larijani, who is speaker of the Iranian parliament. It says it will stick to the agreement as long as the other signatories respect it but will "shred" it if Washington pulls out.
"Instead, it has served as a slush fund for weapons, terror, and oppression, and to further line the pockets of corrupt regime leaders".
Bhala has a global reputation in the scholarship of international trade law, have lectured around the world and has published dozens of books and journal articles including the leading textbook Modern GATT Law, "International Trade Law", "Understanding Islamic Law (Shari'a)" and "TPP Objectively: Law, Economics, and National Security of History's Largest, Longest Free Trade Agreement". These are separate to the nuclear deal.
The fear among European allies is that ripping up the deal erases any incentive Tehran might have to keep restrictions in place on its nuclear program.
Moscow, for its part, warned Washington that going back on the deal would be a grave mistake.
"The Joint Comprehensive Plan of Action is not renegotiable".
In a written statement, Trump said the following: "Today, I am waiving the application of certain nuclear sanctions, but only in order to secure our European allies' agreement to fix the terrible flaws of the Iran nuclear deal".
Iran has said its nuclear program is strictly for peaceful uses.
EU foreign policy chief Federica Mogherini said that "unity is essential to preserve a deal that is working, that is making the world safer, that is preventing a nuclear arms race in the region".