Trump Calls Off Iran Ceasefire

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Daniel Bach (0:32)

President Trump calls off the ceasefire with Iran after a night of retaliatory strikes.

Donald Trump (0:38)

To me, I think it's over. I don't want to deal with them anymore. They're scum.

Daniel Bach (0:43)

We have the response from NATO leaders who are gathered for a second day in Ankara and failure to launch for SpaceX on its first day on the NASDAQ 100 It's Wednesday, July 8th. I'm Daniel Bach for The Wall Street Journal, filling in for Luke Vargas. And here is the AM Edition of What's News, the top headlines and business stories moving your world today.

Oil prices have jumped after President Trump said the ceasefire with Iran is over. It comes after the US and Iran exchanged fire following Iranian attacks on ships near the Strait of Hormuz. Late yesterday, Washington also revoked a waiver allowing Tehran to sell oil, something NATO Secretary General Mark Rutte said was absolutely necessary.

Mark Rutte (1:27)

Iran is basically violating the ceasefire. We see what happened yesterday with ships being attacked. I think it is totally crucial that the US forcefully reacts.

Daniel Bach (1:37)

Rutte, they are speaking at the NATO summit in Ankara. Journal National Security reporter Robbie Gramer is there for us.

Robbie, Trump grabbing headlines this morning saying that the ceasefire in the Middle East is over.

Yet we understand negotiations are still ongoing. Bring us up to speed.

Robbie Gramer (1:53)

Yeah, I mean, there was a series of US strikes and Iranian counterstrikes overnight in response to Iran targeting more vessels in the Strait of Hormuz, a strategic waterway.

So Trump lashed out at Iran's leadership after weeks of negotiations here. It's the starkest sign yet that diplomacy with Iran has stalled under this preliminary ceasefire agreement. But importantly, there is that caveat, as you pointed out. Trump was saying, I'll let our wonderful negotiators keep talking if they want it, but I don't see it. Now there's negotiators Steve Wittkopf and Jared Kushner have shepherded these negotiations ever since the ceasefire was finalized back in mid-June. But we don't really know where things stand. As usual with Trump, he can escalate the rhetoric, but also leave a little bit of room for negotiation. So there is a possibility that this is just dialing up the pressure on Iran, trying to shake them out of this, this rut of continuing these low level attacks on the strait, trying to get them back to the negotiating table in a serious way. Or it could be a sign that the US is ready to undertake serious military operations in the region again.

Daniel Bach (3:01)

Robbie, this is all taking place amidst a high stakes NATO summit, where Trump seems to be in a pretty punchy mood last night, repeating threats to annex Greenland and remove more troops from Europe.

Donald Trump (3:11)

If it was Greenland, and it continues to be, that should be controlled by the United States, not like Denmark. And where they wouldn't go along with it, and with all the money we spent to help them with Russia, we don't have to spend any money. We could remove all of our soldiers out of Europe.

Daniel Bach (3:29)

How are allies responding to those threats?

Robbie Gramer (3:31)

Well, it depends who you ask here. I mean, this is a really high stakes summit for the NATO alliance. We've got the war in Ukraine.

We've got a Trump administration that's really angry at NATO allies for, in their mind, not stepping up to help his war in Iran. And so all of these European NATO allies and Ukraine are trying to project this show of unity, of alliance, solidarity. But you have Trump, the ultimate wild card here. And when he has the bully pulpit, European leaders just have to sit there and white knuckle whatever is going to happen. So when he says these provocative comments on Greenland, which has been one of the most extraordinary crises in U.S.-European relations, you get a combination of NATO diplomats, NATO leaders who are rolling their eyes, who are becoming increasingly anxious, or who are sort of inured to this and saying, look, Trump's going to say what he's going to say, but we just have to keep our head down, keep doing work and keep this alliance functioning, no matter what rhetorical bombshells Trump drops this week.