The US president is expected to announce a decision to tear up the deal, which was negotiated under his predecessor Barack Obama in 2015

Jason Rezaian, the Iranian-American journalist jailed in Iran for one and a half years, warned that the US withdrawal from the JCPOA could have serious consequences for Americans jailed in Iran.

Rezaian, an opinion writer for the Washington Post, said his release was “tangentially” related to the nuclear deal negotiations.

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If the New York Times reporting is correct and Trump reinstates all the suspended sanctions and then slap on some additional penalties, it will be removing any ambiguity and nuance from the US position.

It will be on the extreme end of the spectrum of US options – a deliberate and radical abrogation of the deal, which will have an immediate impact on the decisions of companies around the world, forcing them to choose between doing business in Iran or in the US. Any corporation dependent on raising project finance on New York money markets is likely to flee Iran.

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Read More Iran deal: Trump reportedly to withdraw US from nuclear agreement – live

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