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Zarif. Photo: John Thys/AFP via Getty Images

Iran's foreign minister, Mohammed Javad Zarif, is embarking on a tour of Europe, China and Russia in an effort to save the Iran nuclear deal, Reuters reports.

The bottom line: After the U.S. withdrew from the deal and announced forthcoming sanctions against companies and countries that do business with Iran, the Middle Eastern country must try to safeguard its trade relationships for the sake of its economy.

Yes, but: While China and Russia are well-positioned to evade U.S. sanctions, the European Union is not. If forced to choose between the $400 billion per year Iranian market and the $18 trillion per year U.S. market, Europe will pick the U.S.

Zarif's stops: He heads to Beijing today, then Russia, then Brussels to meet his counterparts from France, the U.K. and Germany.

Go deeper: The companies hit hardest by sanctions on Iran

Go deeper

Updated 3 mins ago - Politics & Policy

Inauguration Day dashboard

U.S. Capitol and stage are lit at sunrise ahead of the inauguration of Joe Biden. Photo: Patrick Semansky - Pool/Getty Images

President-elect Joe Biden and Vice President-elect Kamala Harris have arrived at the Capitol. Members of congressional leadership and VIPs will soon be introduced. Watch a livestream here.

What's next: Biden and Harris will take their oaths of office. Shortly after, President Biden will deliver his inaugural address. What to expect.

In photos: The Biden and Harris inauguration

Doug Emhoff, Vice President-elect Kamala Harris, Jill Biden and President-elect Joe Biden arrive at the U.S. Capitol for the inauguration on Jan. 20. Photo: Joe Raedle/Getty Images

Joe Biden and Kamala Harris are being inaugurated as president and vice president respectively in a ceremony at the U.S. Capitol on Wednesday morning.

Why it matters: Top Democrats and Republicans gathered for the peaceful transfer of power at the Capitol only two weeks after an unprecedented siege on the building by Trump supporters. Trump did not attend the ceremony.

Dan Primack, author of Pro Rata
1 hour ago - Economy & Business

Momentum builds for major antitrust reform

Illustration: Aïda Amer/Axios

President Trump's outgoing antitrust chief Makan Delrahim on Tuesday endorsed a proposal from House Democrats that would put new limits on acquisitions by large companies, during comments made at a Duke University event.

Why it matters: Momentum is building for major antitrust reform, updating rules that were written for railroads instead of routers.

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