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"This may work in a real estate market. It does not work in dealing with Iran," Zarif said in an interview with US media 'ABC News' .
He added: "It may work even with in dealing with other countries, for a brief period, not for long term, but it doesn't work with Iran for a brief period, or in medium or long."
"If the objective of President Trump is to impose pressure on normal Iranians, on ordinary Iranians, he is certainly achieving that," Zarif noted.
"But he will not achieve his policy objectives through pressure on the Iranians."
Iranian top diplomat went on to say: "the prospects of potential talks are "not very likely, because talking is the continuation of the process of pressure."
"The only thing that works with Iran is respect," he reiterated.
He went on to say: "I've said it before, threats against Iran never work." "Never threaten an Iranian. Try respect, that may work."
"We call this place the Persian Gulf for a reason," said Zarif.
He added: "It's next to us. We have a right to defend ourselves."
"Just imagine if Iran were to come to California coast [or the] Florida coast," he added.
"How do you feel? How would you treat that? The United States is sending nuclear ships to our waters, to our vicinity."
"I like to keep President Trump guessing because he likes everybody in the world to keep on guessing about what is happening in the United States," said Zarif.
"We don't differentiate between economic war and military war," he cautioned. "The U.S. is engaged in war against us, and a war is painful to our participants. We have a very clear notion that in a war, nobody wins. In a war, everybody loses the loss of some will be greater than the loss of others."
"All options are on the table belongs to the time when the use of force was legal, and that is about 100 years ago," said Zarif.
"What we say is that we exercise our self defense. Self defense is allowed. President Trump has announced that he is engaged in a war and economic war against Iran, and we have an obligation to defend our people against that economic war."
Earlier, US Secretary of State Mike Pompeo announced that the US is ready to hold negotiations with Iran with no preconditions.
According to the US media 'Associated Press', Pompeo made the remarks Sunday in a meeting with his Swiss counterpart Ignazio Cassis.
Although Switzerland as Foreign Interests Section of the US had mediated between the two countries, it is unclear whether Pompeo is seeking further assistance from Switzerland to protect American citizens arrested in Iran.
Trump administration's officials said they will welcome any attempt for releasing at least five US citizens and two individuals with a permanent residence permit in Iran, who have been imprisoned in Iran.
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