Bloomberg:

European politicians treated Donald Trump’s new Iran policy as America going rogue. Europe’s businesses can’t afford to be so dismissive.

On Friday, Trump refused to certify Iran’s compliance with the 2015 nuclear accord, threatened to pull out of it completely, imposed new sanctions and invited Congress to weigh in with more. The European Union rushed to defend the deal, and point out that no single country has the right to terminate it. The U.S. president “has many powers,’’ EU foreign policy chief Federica Mogherini said. “Not this one.’’

But America does have the power to take unilateral action that affects companies everywhere -- and has used it in the past. Trump gave Congress 60 days to consider re-imposing curbs on Iran. Some of them could apply to businesses outside the U.S., potentially forcing them to choose between the American and Iranian markets.

In Tehran, Amir Alizadeh, deputy managing director of the German-Iranian Chamber of Commerce and Industries, has seen fewer trade delegations in town this year, and he says larger companies, especially those active in the U.S., are delaying their decisions.

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