Washington also announced sanctions against 14 entities and people, including the head of Iran's judiciary, Ayatollah Sadeq Larijani.
For weeks, world leaders have speculated whether Trump, who on the campaign trail called the Iran agreement "the worst deal ever", would carry through and pull out of the international agreement.
Zarif tweeted that Trump's policy and his announcement on Friday amount to desperate attempts to undermine a solid multilateral agreement.
He was prepared to back a modification to the existing deal if it were made permanent, one official said. While Iran's regular military, the Iranian Army or the Artesh, exists to defend the nation's borders from outside enemies, the IRGC exists specifically to counter domestic affairs in order to protect the country's radical Islamic system. But he is not proposing "direct talks" with the Iranian government, the official said. Iran has repeatedly warned the U.S. against scrapping the deal, while other parties involved in the deal are also largely opposed to such move.
But he says this waiver will be the last and is meant to secure an agreement from European allies to fix what he says are flaws in the pact.
But he added that the "faces a huge challenge in getting European allies to strengthen the [nuclear agreement]".
The 2015 deal stipulates that US presidents must sign a waiver suspending the sanctions regimen on Iran every four months.
Tehran member of parliament Mahmoud Sadeghi said on Tuesday that 3,700 people have been detained since protests broke out in late December.
Trump on Friday gave an ultimatum to "either fix the deal's disastrous flaws, or the United States will withdraw".
Since the change in administrations, the State Department likewise has certified that Iran is in "technical compliance" with the deal.