“It’s Over.” The President with NATO & the Legacy of Elie Wiesel 7/8/26

**SPEAKER_1** (0:00)
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**SPEAKER_2** (0:27)
This episode is brought to you by Schwab Market Update, an original podcast from Charles Schwab. Join host Keith Lansford for this information-packed daily market preview delivered in 10 minutes or less, including projected stock updates, monetary policy decisions, and key results and statistics that may impact your trading. Download the latest episode and subscribe at schwab.com or find Schwab Market Update wherever you get your podcasts.

**Nicholas Burns** (0:57)
Bring in show music, please.

**Katie Kramer** (1:00)
Hi, I'm CNBC producer Katie Kramer. Today on Squawk Pod.

**SPEAKER_5** (1:05)
As far as I'm concerned, it's over.

**Katie Kramer** (1:08)
President Trump's market-moving comments from the NATO summit. Our own Steve Sedgwick is on the ground in Turkey talking to attendees.

**Steve Sedgwick** (1:16)
Blindsided on this issue. Absolutely all the leaders here.

**Katie Kramer** (1:20)
The president says the memorandum of understanding with Iran is over. But former ambassador to NATO, Nicholas Burns, interprets the remarks as a push to inflict damage on Iran's economy.

**Nicholas Burns** (1:31)
That's the pressure point.

**Katie Kramer** (1:33)
An evolving picture in the Middle East.

**Nicholas Burns** (1:35)
I think the option of the administration going back to a full-throated air war against Iran probably isn't there. It didn't work the first time, so there are limited options here.

**Katie Kramer** (1:46)
And the late Nobel Peace Prize winner, Elie Wiesel, died 10 years ago. Today, his son, Elisha Wiesel, is carrying on his father's legacy, what we are still learning from the Holocaust.

**Elisha Wiesel** (1:56)
There's so much ignorance in the world, and my father spoke about fighting indifference, but he didn't get to see just how much ignorance we're wallowing in now. And now it's time for us to fight ignorance.

**Katie Kramer** (2:07)
Plus, a familiar voice on really, really big news.

**Andrew Ross Sorkin** (2:11)
Co2 management is going to be injecting about $4 billion, really the first outside money ever beyond Jeff Bezos' money into Blue Origin.

**Katie Kramer** (2:22)
It's Wednesday, July 8th, 2026 Squawk Pod begins right now.

**Andrew Ross Sorkin** (2:28)
Stand by Joe in 3, 2, 1 Ms. Mike.

**Joe Kernen** (2:34)
Good morning and welcome to Squawk Box here on CNBC live from the NASDAQ market site in Times Square.
I'm Joe Kern along with Kelly Evans who just to warn you, she made it one day.
This is her second day but not as smooth.

**Kelly Evans** (2:51)
Taking them.

**Joe Kernen** (2:51)
Not as smooth as the first day, right? You go for the nap, that doesn't work, then can't sleep at night.

**Kelly Evans** (2:58)
Because there's this fine 1 p.m. program.
I'm doing very well by the way. And so I thought, well, I'll tough it out. And no, no, bad idea.

**Joe Kernen** (3:08)
You want me to do the, how would that change that I do the heavy lifting? So, we'll just keep.

**Kelly Evans** (3:14)
Oh please, oh step aside.

**Joe Kernen** (3:16)
US.,
if you need at any time to go take a nap or something, actually, if I talk long enough, you might. US. Equity Futures at this hour.

**SPEAKER_5** (3:28)
We're paying 100% of NATO and yet a lot of the countries weren't paying anything. So, Mark, would you say a few words?

**SPEAKER_11** (3:35)
Absolutely. Thank you so much, Mr. President, dear Donald. What you did, degrading the nuclear capability, crucial for Israel, the region, for Europe. Degrading the ballistic missile capability of Iran, crucial for Israel, for the region, for you, for the whole world.

**SPEAKER_5** (3:50)
You know, it's interesting. I'm very unhappy with NATO and yet, this man is a great leader and he gets it.

**SPEAKER_12** (3:57)
Thank you very much.

**Kelly Evans** (4:04)
President Trump says, in his view, the memorandum of understanding meant to pause the war between the US and Iran is over, but there is some nuance here. Steve Sedgwick is at the NATO summit in Turkey and joins us now with more. Steve, it's great to see you again, albeit in these circumstances, I caught a little bit of what your report was last hour. But wow, have we had some fireworks already from this NATO summit?

**Steve Sedgwick** (4:27)
Yeah, it is quite extraordinary. Look, the European leaders were ready for something. They just didn't expect this. There is no doubt about it. Kelly, Joe, I've had the privilege of speaking to 13 NATO leaders, 13 NATO leaders before the president spoke today as well, and not one of them thought that this was on the agenda. Yes, they thought that Spain was going to get it because of their support for the United States during the war and their lack of ability to get to 5% as well. Yes, we thought Greenland might be somewhere. We had a hint of that yesterday, and I can talk about that a little bit later on if you want. Defense spending, they were ready for that. They were ready and have been having huge amounts of spending commitments cited in the last 24 hours in order to head the president off on that. And Iran, they were ready for criticism over Iran, but only over what NATO had and hadn't done to support the president, but they were not ready for what the president had to say. Let's listen to what he had to say about this MOU, and I'll explain a bit more detail.