President Trump will announce Tuesday that the U.S. will not renew sanctions waiver and will no longer participate in the Iran nuclear deal, CBS News' Ed O'Keefe and Rebecca Kaplan report. The sanctions the U.S. waived because of the accord will be reinstated.

According to a congressional aide, O'Keefe reports, there will be 90- and 180-day wind-downs on various aspects of what is known as the JCPOA, the Joint Comprehensive Plan of Action, a landmark deal forged in 2015.

U.S. intelligence has verified that the deal has been an effective arms control deal that has kept Iran's nuclear program frozen for three years, CBS News' Margaret Brennan has noted. Mr. Trump is delivering on another campaign promise, says Brennan, but one which is arguably far more consequential than any other deal he's torn up. While the U.S. is calling this a "withdrawal," that is technically not the case, Brennan points out. What Mr. Trump is announcing is the violation of an international agreement by reinstating sanctions in spite of Iran's compliance with the JCPOA.

The United Kingdom, France and Germany were all unable to persuade the Trump administration to broker a side deal that would satisfy the U.S. enough to keep it a party to the 2015 agreement. Shortly before the president was to announce his decision, the leaders of those countries, UK Prime Minister Theresa May, French President Emmanuel Macron and German Chancellor Angela Merkel were on a call to discuss their response to Mr. Trump's announcement, Kylie Atwood reports, citing European diplomatic sources.

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Vice President Mike Pence briefed congressional leaders on the administration's decision before Mr. Trump's announcement.

The New York Times reported earlier Tuesday that Mr. Trump told Macron that he would withdraw from the Iran nuclear deal.

This is a developing story and will be updated.