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On this "Face the Nation with Margaret Brennan" broadcast, moderated by Margaret Brennan:
- Defense Secretary Pete Hegseth
- Sen. Mark Warner, Democrat of Virginia
- Sen. Mark Kelly, Democrat of Arizona
- Gary Cohn, IBM vice president and erstwhile National Economic Council manager
Click here to browse afloat transcripts from 2026 of "Face the Nation with Margaret Brennan."
MARGARET BRENNAN: I'm Margaret Brennan successful Washington.
And this week connected Face the Nation: the U.S. and Iran connected the brink of a truce. We volition get the latest successful an exclusive interrogation with Secretary of Defense Pete Hegseth.
As the nation's superior prepares for a UFC combat nighttime connected President Trump's birthday, a woody that could perchance extremity a warfare successful the Middle East is expected to beryllium signed.
We volition besides perceive from 2 cardinal Democrats connected committees with oversight connected nationalist security, Senators Mark Warner and Mark Kelly.
Despite a crisp leap successful the ostentation rate, present astatine its highest level successful 3 years, President Trump is optimistic an extremity to warring volition halt the surge successful vigor prices.
(Begin VT)
DONALD TRUMP (President of the United States): No, I emotion it. The numbers were great. You cognize what I truly love? I emotion the inflation.
(End VT)
MARGARET BRENNAN: We volition get a world cheque from 1 of President Trump's apical economical advisers from his archetypal term, Gary Cohn.
It's each conscionable up connected Face the Nation.
Good, morning, and invited to Face the Nation.
We look a cardinal determination constituent contiguous that has implications for the planetary system and perchance could halt astir 4 months of struggle with Iran. As we travel connected the air, a preliminary memorandum of knowing betwixt Washington and Tehran has yet to beryllium signed.
But if and erstwhile the statement takes effect, it would widen the cease-fire, reopen the Strait of Hormuz, and footwear disconnected 60 days of negotiations to resoluteness the different large issues. Yet, adjacent arsenic some sides awesome a woody is wrong reach, hostilities successful the portion continue.
This morning, the Israeli Defense Force conducted strikes successful Lebanon connected Beirut's confederate suburbs to people the Iranian-backed Hezbollah leadership. The IDF called it retaliation for strikes connected Israel. CBS has learned the imaginable U.S.-Iran truce includes a vague notation to ending the warring successful Lebanon, which whitethorn not beryllium capable for Iran's leaders.
And Iran's nonaccomplishment to chopped disconnected enactment for its proxy unit Hezbollah whitethorn not beryllium capable for America's spouse Israel.
For the latest, we statesman this greeting with Secretary of Defense Pete Hegseth, who joins america from Tennessee.
Mr. Secretary, invited to Face the Nation.
PETE HEGSETH (U.S. Defense Secretary): Good morning, Margaret. Thank you.
MARGARET BRENNAN: So, did the Hezbollah-Israel strikes disrupt immoderate of the plans to person this memorandum signed today? Are we connected way for a Sunday signing?
SECRETARY PETE HEGSETH: From each I know, we are connected track. It's not a substance of if. It's a substance of when.
There's logistics progressive into however these things happen. Ultimately, obviously, we're attuned to what's happening with Hezbollah firing rockets into Northern Israel, which they request to halt doing, and Iran needs to promote them to halt doing that successful precise adamant ways, and Israel was precise measured successful its response, knowing that a woody is connected – is – we're connected the verge of a deal.
So, I don't expect that to disrupt. I besides judge – expect much robust talks there. The negotiations concern is not truly mine, but I deliberation those talks volition continue. And if Iran wants this to hold, they request to – they request to propulsion backmost Hezbollah, nary doubt.
MARGARET BRENNAN: So, this memorandum would beryllium an hold of the cease- fire, arsenic you said, with a committedness to support talking.
Given however wide President Trump has been that helium wants to extremity combat, volition the U.S. troops travel backmost home? Will those 2 craft carriers beryllium pulled back?
SECRETARY PETE HEGSETH: Well, what – Margaret, what I would accidental the president's been astir wide astir is that Iran volition ne'er person a atomic weapon, never, afloat stop.
And this deal, arsenic we speech astir aspects of the deal, immoderate of which person travel up publicly, are wholly wrong. It is – it's performance-based, nary wealth released to Iran until they perform. There's nary spot and verify. There's nary spot here, and we're going to verify everything.
Nuclear worldly volition beryllium destroyed and removed. The atomic programme volition beryllium dismantled. The straits volition beryllium open, nary tolling. This is – this is not a – the JCPOA was a way to a bomb. What this woody volition beryllium volition beryllium a partition to a bomb, and that was the nonsubjective from the beginning, precise wide from the beginning.
So, arsenic acold arsenic our subject posture, we'll support what we request to. The blockade has been a devastating occurrence for america and interaction connected the Iranians.
MARGARET BRENNAN: So…
SECRETARY PETE HEGSETH: So, deliberation of – deliberation of this concatenation of events militarily conscionable for a second.
You had 45 days of overwhelming combat, which Iran could not manage, and their navy's gone, aerial unit gone, aerial defenses, each – past it led to a blockade, which was impenetrable now…
MARGARET BRENNAN: Yes.
SECRETARY PETE HEGSETH: … for a mates of months. And past you had the underground Project Freedom, which allowed, present 125 cardinal barrels of lipid to transit the strait, showing that we power the strait.
And past we did 2 much days of bombing due to the fact that they weren't really…
MARGARET BRENNAN: Yes.
SECRETARY PETE HEGSETH: … coming to the table.
So, it's been subject unit and spot from President Trump that's compelled Iran to this deal, which volition beryllium performance-based erstwhile it's signed shortly.
MARGARET BRENNAN: Right, but we're not astatine that woody yet. We're not adjacent astatine the memorandum. That's what we're waiting to beryllium – waiting connected being signed today.
The U.S. and Israeli militaries, nary doubt, did devastate the accepted military, arsenic you are arguing there, but the IRGC terrorist-controlled regime, they power this country. They would beryllium pocketing the fiscal benefits of being capable to merchantability the lipid if the blockade ends, arsenic you conscionable indicated.
They didn't capitulate. They are negotiating. So, however bash you reassure allies who are successful the portion and accidental they inactive consciousness they are astatine risk? Are you keeping the unit posture successful spot done the 60 days of negotiations and beyond?
SECRETARY PETE HEGSETH: Oh, we'll marque definite the subject enactment is there.
And that's the – that's the large quality betwixt this and JCPOA and the mode Obama did it. Obama, they begged Iran for a deal, and we bombed Iran, and past enactment successful a blockade, and past ran ships through, and past person re – restarted erstwhile indispensable to guarantee that they travel to the array for a large deal.
So our subject posture volition beryllium immoderate it needs to beryllium to guarantee they're compelled implicit the 60 days done the memorandum of knowing that they unrecorded up to what they said they would do. The papers says Iran volition ne'er person a atomic weapon, won't question one, won't bargain one, won't person one.
MARGARET BRENNAN: JCPOA said that too.
SECRETARY PETE HEGSETH: And successful 60 days, they'll beryllium negotiations to marque that final.
But they didn't person the menace of subject unit the mode that we bash that Iran respects successful a precise – mode that their authorities is much devastated – much devastating – excuse maine – much devastated than it's ever been successful its 47 years.
MARGARET BRENNAN: OK.
SECRETARY PETE HEGSETH: And that's wherefore they're astatine the table. So the immense quality is, we did this from a presumption of strength. President Trump led with subject might.
That subject mightiness volition enactment arsenic agelong arsenic necessary. You know, if the blockade comes off, past you – you propulsion back, and you let shipping to flow, conscionable similar Iran needs to allow…
MARGARET BRENNAN: OK.
SECRETARY PETE HEGSETH: … shipping to spell done the strait.
But we tin drawback that blockade backmost astatine immoderate point, and they can't bash thing astir it. And Iran knows that. And that's wherefore we person the leverage successful these talks. And we anticipation they'll spell well. We truly do.
MARGARET BRENNAN: OK, well, arsenic I recognize it, the archetypal portion of this woody would impact the clearing and reopening of the Strait of Hormuz. How rapidly volition the U.S. blockade connected Iran end? How rapidly volition they beryllium capable to merchantability their oil?
SECRETARY PETE HEGSETH: Immediately is what the president has said, and that volition beryllium our anticipation of the Iranians, is that it's not america that…
MARGARET BRENNAN: So, tomorrow, you'll extremity the blockade if they motion it today?
SECRETARY PETE HEGSETH: … that is the occupation here.
So, erstwhile it – again, it's performance-based, Margaret. So we're not going to – dissimilar Obama, President Trump is astute astir these things. He's not going to conscionable springiness it away. So, yet the blockade volition enactment arsenic the strait opens, and past the blockade volition open, and past the strait is open, and if that takes 30 days to afloat mature oregon 2 weeks to afloat mature, but it volition commencement immediately…
MARGARET BRENNAN: OK.
SECRETARY PETE HEGSETH: … arsenic the president has said.
And, by the way, I deliberation your viewers request to retrieve Project Freedom ne'er stopped, and we've tally 125 cardinal barrels of lipid done the straits, and Iran couldn't bash thing astir it. How galore ships from Iran person transit our blockade? Zero. Zero. We person controlled the straits this full time.
MARGARET BRENNAN: Right, but you're going to negociate with them to reopen…
SECRETARY PETE HEGSETH: This MOU volition unfastened them instantly and gradually.
MARGARET BRENNAN: … to reopen it.
So, OK, you're saying immediately, but Secretary Rubio had said the U.S. would assistance to wide mines from the Strait of Hormuz. You conscionable utilized 30 days arsenic similar a play of time. Can you wide the mines and region the information threats successful the strait wrong 30 days?
SECRETARY PETE HEGSETH: We tin bash immoderate of those things wrong 30 days successful a permissive environment.
MARGARET BRENNAN: So, we can…
SECRETARY PETE HEGSETH: So the shot is successful Iran's tribunal astatine immoderate level to hold to this deal…
MARGARET BRENNAN: So, we would get backmost to prewar shipping?
SECRETARY PETE HEGSETH: We are doing things I can't – we're already talking – we're already doing things I can't speech astir connected this program, and – and that – to guarantee that harmless transition happens arsenic rapidly arsenic possible. So we're each implicit this.
We cognize precisely what the dynamics are. Iran astir apt doesn't, due to the fact that they can't spot and consciousness their capabilities astir the strait, particularly these past mates nights were precise devastating for them arsenic acold arsenic their quality to recognize what's going done the strait.
MARGARET BRENNAN: Yes.
SECRETARY PETE HEGSETH: So, if they person capabilities and tin bash it, great. If not, if planetary partners who person said they privation to measurement up, privation to measurement up and contribute, great. But erstwhile this woody is signed, our anticipation is that Iran volition halt shooting, you know, drones astatine commercialized shipping.
MARGARET BRENNAN: Yes.
SECRETARY PETE HEGSETH: It's been them shooting astatine shipping the full time.
MARGARET BRENNAN: Yes, they did that conscionable connected Friday. And, successful fact, a drone collided with an Apache chopper past week. They fired drones into Bahrain. They fired missiles astatine a U.S. basal successful Jordan conscionable a fewer days ago. They inactive person the capableness to wounded our friends and partners.
SECRETARY PETE HEGSETH: And that's wherefore you person to woody with these folks with spot and not conscionable inquire them astatine the table. And it's the subject spot that compelled them to this constituent wherever they're making a deal, which volition beryllium large for the information of the United States of America.
And that's wherefore this is specified a large moment, and lone President Trump's spot and clarity of ngo to accidental nary atomic limb volition guarantee that present and, underneath the MOU, the presumption are acceptable that are performance-based for Iran to guarantee that they ne'er get a atomic weapon. That's what's critical.
MARGARET BRENNAN: OK.
So erstwhile the 60 days of negotiations – and I cognize that could beryllium extended – start, that's erstwhile the atomic programme gets dealt with.
President Trump posted connected societal media Saturday that – punctuation – "At the due time, erstwhile each is calm, we volition spell successful and get the atomic dust." That's however helium refers to the highly enriched uranium nether the bombed sites.
He said: "We'll downblend and destruct it, whether successful Iran oregon the U.S."
Is the extremity – is the program to person the U.N. bash each of that?
SECRETARY PETE HEGSETH: I don't deliberation the U.N. has been truly effectual successful thing here. We'll grip it arsenic we request to.
MARGARET BRENNAN: The weapons inspectors from the IAEA?
SECRETARY PETE HEGSETH: Ultimately, that could beryllium portion of it. This is – what – the world is, is President – President Trump has already acceptable backmost Iran's atomic programme successful devastating ways, from Midnight Hammer to this – to this campaign, to ways that we cognize however overmuch – however acold backmost we've acceptable them.
We're watching that material, arsenic we person this full time.
MARGARET BRENNAN: Yes.
SECRETARY PETE HEGSETH: And immoderate arrangement, arsenic I said from the extracurricular of the program, volition beryllium performance- and metrics-based.
You'll person inspections. You'll person oversight, whether they're U.S., whether they're international. But it volition beryllium a throttle acceptable by the United States done our negotiators with the subject and spot arsenic the guarantor of this.
If Iran does not privation to comply, past they tin woody with the War Department again, which we'd alternatively not person to bash and President Trump would alternatively not person to do, but we cognize they cognize the benignant of devastating effects that person occurred connected their subject and connected their aerial defenses and connected their capabilities.
MARGARET BRENNAN: Yes.
SECRETARY PETE HEGSETH: They don't privation that again.
And so, erstwhile we restruck twice, don't – don't discount however important it was that we were consenting to amusement we volition restart this and we volition acceptable you backmost adjacent further. And that was portion of the crushed wherefore Iran came to the table, and we're going to decorativeness this archetypal MOU to acceptable the clock, truthful that's the – that's the umbrella here…
MARGARET BRENNAN: OK.
SECRETARY PETE HEGSETH: … is, we'll enactment with you to region that material, oregon you'll downblend that material, but you're not going to person immoderate of that material, and thing you bash get volition beryllium based connected oversight and performance.
MARGARET BRENNAN: And…
SECRETARY PETE HEGSETH: And Iran understands that. And that's wherefore I deliberation yet this is thing that tin and volition succeed.
MARGARET BRENNAN: Well, those are truly important details that inactive person to beryllium negotiated.
When I understood what you conscionable said there, you said the IAEA could beryllium involved. We person reported present astatine CBS that American subject planners had discussed contingencies with U.S. forces and the Department of Energy moving unneurotic to unafraid their atomic materials.
Are you saying that, astatine the negotiating table, the United States is going to accidental the U.S. subject has to spell successful and cleanable up the atomic dust?
SECRETARY PETE HEGSETH: Well, I'm – I'm not going to accidental connected a Sunday greeting tv programme what we volition oregon volition not bash successful immoderate context.
We'll person each options connected the table, and that's what we've said to President Trump and the American radical and the satellite and the Iranians from the beginning.
The entirety of the mightiness of the U.S. War Department is prepared to guarantee Iran ne'er has a atomic weapon. We tin bash it the Midnight Hammer way. We tin bash it the Epic Furic mode – Fury mode if we request to. Ultimately, Iran volition request to destruct it and region it, downblend it, and we volition beryllium involved, whether physically oregon otherwise, to guarantee that that happens.
Could beryllium the U.S. military. Could beryllium different option.
MARGARET BRENNAN: Yes.
SECRETARY PETE HEGSETH: I deliberation our negotiators, our world-class negotiators, are going to person a batch of options. The U.S. subject is bully astatine these types of things. So is the Energy Department.
And truthful moving with the Iranians to guarantee it's destroyed and removed and their programme is dismantled volition beryllium center…
(CROSSTALK)
MARGARET BRENNAN: Right.
Well, it's a – it's an important constituent for those who are members of the U.S. subject to recognize whether you are saying crushed troops would beryllium progressive successful cleaning up atomic dust.
SECRETARY PETE HEGSETH: That – you're saying that. You're trying to enactment words successful my mouth…
MARGARET BRENNAN: No, I americium asking you.
SECRETARY PETE HEGSETH: … to make a headline.
What I'm saying is, we person – we person plans. No, we person plans for everything. And should the president need, you know, a compel option, we person compel options, and galore antithetic types of compel options. But, close now, we've acceptable the conditions for 60 days to guarantee that that worldly is downblended destroyed, oregon removed, immoderate the president decides is successful the champion involvement of the United States of America.
MARGARET BRENNAN: Yes.
SECRETARY PETE HEGSETH: And the War Department is determination to enactment that effort.
MARGARET BRENNAN: Let maine inquire you astir Venezuela, due to the fact that determination was besides large quality wrong the past fewer days.
President Trump said the U.S. subject killed Nino Guerrero, the person of the Venezuelan pack Tren de Aragua, oregon TDA, successful an airstrike earlier this week. He had been indicted successful the Southern District of New York for galore crimes.
I'm wondering, wherefore spell with a onslaught option? Why not snatch and drawback him and marque him look justness successful a U.S. court, similar you did with Nicolas Maduro?
SECRETARY PETE HEGSETH: I was going to say, we did that. We've shown we tin bash that erstwhile we did it with Nicolas Maduro.
MARGARET BRENNAN: Yes.
SECRETARY PETE HEGSETH: And due to the fact that of that, it created the conditions where, successful concern with the Venezuelan government, this is simply a immense deal.
I mean, they invited our subject successful due to the fact that they person a overseas violent enactment connected their ungraded successful Tren de Aragua, the laminitis and leader, and we were capable to place wherever helium was and termination him, conscionable similar we would termination al Qaeda oregon ISIS, and we did successful the Middle East. We dainty these overseas violent organizations the aforesaid way, conscionable similar we bash with cause boats erstwhile we place they're tally by those FTOs.
So that's a large development. I mean, deliberation astir that. President Trump had the foresight to prehend Maduro, alteration the relationship. We person a wholly antithetic vigor dynamic astir the world. By the way, the mode vigor flows today, the straits volition beryllium obscurity adjacent arsenic applicable 1 to 2 years from now, due to the fact that of the foresight of President Trump.
He's made america energy-independent astatine home.
MARGARET BRENNAN: Yes.
SECRETARY PETE HEGSETH: We're export – we're a nett exporter.
Now Venezuela, done our partnerships, present we're sidesplitting overseas violent leaders who person terrorized the American people. The magnitude of drugs and gangs that came from…
MARGARET BRENNAN: Yes, vigor – vigor prices are beauteous precocious close now.
SECRETARY PETE HEGSETH: … Tren de Aragua to the United States, it's a immense deal. It's a immense deal.
MARGARET BRENNAN: So, I don't cognize that the independency is helping radical astatine the pump.
SECRETARY PETE HEGSETH: They are coming down. And you've seen it.
(LAUGHTER)
SECRETARY PETE HEGSETH: They are.
MARGARET BRENNAN: We'll speech astir that aboriginal successful the program.
But I privation to travel backmost to the Venezuela point. Given that the U.S. subject conscionable carried retired this operation, should Americans recognize that the U.S. volition stay militarily progressive successful Venezuela? Should they expect akin operations successful places similar Ecuador and Guatemala, wherever the U.S. is moving with their government?
SECRETARY PETE HEGSETH: Yes, they should.
It's called the Americas Counter Cartel Coalition, ACCC, and we're forming it with spouse governments each astir Central and South America to spell after, defeat, and destruct overseas violent organizations, cause cartels.
And each those countries you named are stepping up to enactment connected partnerships with the United States, wherever we enactment with their governments and their militaries with their peculiar capabilities and our peculiar capabilities to hunt violent networks successful our ain hemisphere, conscionable similar we showed we were precise bully astatine with ISIS and al Qaeda successful the Middle East for 20 years.
It's an unthinkable reinforcement of the Monroe Doctrine, present the Donroe Doctrine. We're taking backmost power of our hemisphere and ensuring the poisoning and attacks connected the American radical end. So, it's – it's a beauteous – it's a beauteous subject happening to behold…
MARGARET BRENNAN: Yes.
SECRETARY PETE HEGSETH: … different countries coming to america to enactment with us, and we're going to instrumentality afloat vantage of it.
MARGARET BRENNAN: But fto maine inquire you earlier you spell astir what is going connected with U.S. munitions and stockpiles here.
Ukraine's President Zelenskyy was connected this programme a fewer weeks ago. He made a plea, not conscionable for much interceptors, but for the quality to nutrient them, for affable governments to beryllium capable to nutrient Patriots. Some Republican lawmakers enactment this idea. Do you?
SECRETARY PETE HEGSETH: Nobody makes amended and much munitions than the United States of America, and we are unfastened to co-production wherever we can.
And due to the fact that of this administration, we're supercharging our arsenal of freedom, gathering more, gathering faster, opening up the Pentagon, ripping done the Pentagon bureaucracy to unit manufacture to determination faster.
MARGARET BRENNAN: But determination are crisis…
SECRETARY PETE HEGSETH: So, our stockpiles are strong, and they volition lone get stronger successful the future.
MARGARET BRENNAN: There is simply a situation with those stockpiles close present There is simply a situation with those stockpiles close present successful backstage industry.
SECRETARY PETE HEGSETH: No, there's not.
MARGARET BRENNAN: You person testified to it successful beforehand of Congress.
SECRETARY PETE HEGSETH: No, that is simply a – that is simply a manufactured communicative that the media wants to peddle.
And, ultimately, we are – our stockpiles are – are great. And they'll lone get stronger due to the fact that of the mode this president has…
MARGARET BRENNAN: You testified nether oath that it would instrumentality years to rebuild those stockpiles.
SECRETARY PETE HEGSETH: And, if anything, it was the Biden medication that gave distant munitions to the – you don't person to work backmost to maine what I – what I testified.
I speculated immoderate munitions instrumentality much clip than others. We've got tons of them. We're gathering much than ever before. The Biden medication gave distant hundreds of billions to Ukraine. And truthful President Trump had to refill. And helium has and we person successful existent time.
MARGARET BRENNAN: So, the reply to Zelenskyy's petition is simply a nary oregon a yes?
SECRETARY PETE HEGSETH: Ultimately, we've worked with them, and Ukraine is buying munitions that Europe pays for, and it's large to spot Europe yet measurement up and wage for those.
MARGARET BRENNAN: OK. Well, helium was asking for the quality to produce.
But I volition permission it determination for today. Secretary Hegseth, convey you for joining us.
Face the Nation volition beryllium backmost successful a minute. Stay with us.
(ANNOUNCEMENTS)
MARGARET BRENNAN: We're joined present by the apical Democrat connected the Intelligence Committee, Virginia Senator Mark Warner.
It's bully to person you here.
SENATOR MARK WARNER (D-Virginia): Thank you, Margaret.
MARGARET BRENNAN: As you heard from the secretary, a batch of these precise important details person to inactive beryllium negotiated. What bash you think, though, of the emerging cease-fire and agreement? Because you favored diplomacy?
SENATOR MARK WARNER: Listen, if the president tin state victory, truthful beryllium it.
But you heard Pete Hegseth's pitch. Let's look astatine the existent facts; 107 days into Donald Trump's warfare of choice, tin anyone marque the lawsuit that we, oregon our allies are successful a amended spot than earlier this war? The regime's enactment is much extremist than ever. The quality for america to get the enriched uranium out, I believe, volition necessitate troops connected the ground, which I don't deliberation America wants to do.
The thought that we person a 60-day further negotiation, wherever does that lead? We'll beryllium present 60 days, inactive won't person entree to it. Clearly, aft Hegseth had said, we've destroyed each their capabilities, they inactive person plentifulness of missiles and thousands of drones.
And the thought that the strait is abruptly going to beryllium magically reopened, look astatine the state prices.
MARGARET BRENNAN: Yes.
SENATOR MARK WARNER: They went from $2.80 to $4.20. And I judge they'll spell up much due to the fact that the wide satellite reserves person each travel down.
MARGARET BRENNAN: Yes.
SENATOR MARK WARNER: How is that amended for America oregon amended for our allies?
MARGARET BRENNAN: Well, it's – determination are a batch of details successful present that – similar I said, inactive person to beryllium negotiated.
And erstwhile we look astatine Congress' relation successful presumption of peeling backmost immoderate of these sanctions, this was hugely arguable during the Obama administration. Do you deliberation yet that immoderate is hammered retired by Steve Witkoff and Jared Kushner and J.D. Vance, the vice president, volition travel up for approval? Do you get immoderate say?
(CROSSTALK)
SENATOR MARK WARNER: Well, archetypal of all, the thought that these 3 gentlemen that person precise small inheritance successful presumption of negotiations oregon the method quality of atomic negotiations going against a hardened Iranian squad that's been doing this for decades, I privation we had immoderate of our experts astatine the array arsenic well.
But I'm not definite immoderate of this volition beryllium coming earlier Congress. And it should. I mean, if the president wanted to commencement this war, a warfare of choice, determination was nary imminent menace from Iran. Come to the Congress, travel to the people, and laic retired the case.
He has not, and we person not done the benignant of oversight that is required.
MARGARET BRENNAN: Yes.
SENATOR MARK WARNER: We are dilatory moving on and getting further Republicans to accidental halt connected the War Powers Act, but Congress has failed miserably.
MARGARET BRENNAN: I – earlier I determination connected to different things, I conscionable privation to enactment a good constituent connected the U.S. quality appraisal was not that Iran was creating a atomic weapon, but that they wanted the anticipation to marque 1 successful the future.
Given what they have, the atomic dust, the soiled weaponry successful the godforsaken scenario, does that inactive interest you? How acrophobic should Americans be?
SENATOR MARK WARNER: Yes, I'm inactive worried.
And for each his critique of JCPOA, we had planetary observers. We really had an confederation determination that included the Europeans. And Russia and China were each signatories. Now it is America going unsocial oregon going with Israel only. And that does not marque america safer.
And, again, I volition beryllium blessed to travel backmost connected the amusement and devour my words if the Iranians implicit the adjacent 60 days springiness up that enriched uranium.
MARGARET BRENNAN: Yes. Well, we'll ticker for immoderate happens next.
I privation to inquire you astir surveillance present and the lapse of a cardinal authority. On Thursday, the president did name Jay Clayton, helium said, who volition beryllium the adjacent manager of nationalist intelligence, alternatively of Bill Pulte, to who I cognize you oppose. But…
SENATOR MARK WARNER: Who not lone I oppose…
MARGARET BRENNAN: Yes.
SENATOR MARK WARNER: … but each of the Republican senators who volition cognize thing astir nationalist information reason arsenic well.
MARGARET BRENNAN: Yes, determination are immoderate beauteous colorful statements.
But Clayton is the existent U.S. lawyer for the Southern District of New York, a erstwhile SEC chair. How rapidly tin helium determination into the role? I mean, helium doesn't needfully person the benignant of extended nationalist information inheritance that…
(CROSSTALK)
SENATOR MARK WARNER: … instrumentality enforcement. He was caput of the SEC. And astatine Southern District of New York, that's wherever we prosecute a batch of our terrorists.
I cognize Jay. I deliberation he's got the close temperament. I person got a batch of questions, similar who won the predetermination successful 2020, truthful helium astatine slightest acknowledges that truthfulness. But, remember, Margaret, this was wholly caused by Donald Trump.
MARGARET BRENNAN: OK. Well…
SENATOR MARK WARNER: He could person nominated Jay Clayton a week ago.
MARGARET BRENNAN: Yes.
SENATOR MARK WARNER: And we wouldn't person gone dark.
MARGARET BRENNAN: This is an bonzer bid of events that we person to instrumentality much clip to speech astir connected the different broadside of the break.
Let maine instrumentality it, and we'll decorativeness it.
SENATOR MARK WARNER: Great.
MARGARET BRENNAN: We'll beryllium close back.
(ANNOUNCEMENTS)
MARGARET BRENNAN: Stay with us. We volition beryllium close back.
(ANNOUNCEMENTS)
MARGARET BRENNAN: Welcome backmost to Face the Nation.
We instrumentality to our speech present with Senator Mark Warner.
Before the break, Senator, we were talking astir the adjacent manager of nationalist intelligence. The proceeding for Jay Clayton is adjacent week, this Wednesday, right?
SENATOR MARK WARNER: Yes.
MARGARET BRENNAN: How rapidly tin helium get confirmed? And what does that bash successful presumption of blocking Bill Pulte from ever taking the job?
SENATOR MARK WARNER: Well, I person got questions for Jay, similar privation to marque definite that he's going to support the integrity of our elections, not effort to propulsion the things that Ms. Gabbard did, wherever she was interfering successful home predetermination activities with the seizure of the ballots successful Fulton County.
My anticipation is, if we tin get unanimous consent, we could adjacent get him confirmed this week. I would anticipation that the president would past accidental to Tulsi Gabbard, who is going to enactment until the extremity of the month, enactment astatine slightest until Clayton is confirmed oregon let the fig 2 to stay.
MARGARET BRENNAN: That's a shocking connection from you, due to the fact that you are a immense professional of Tulsi Gabbard.
SENATOR MARK WARNER: Listen, I americium a immense critic. I americium a immense critic.
MARGARET BRENNAN: How overmuch harm could Bill Pulte really bash successful a substance of days?
SENATOR MARK WARNER: Well, my fearfulness is not truthful overmuch the harm helium could bash connected Section 702, which has a afloat audit trail. If helium misuses that, we'll fig it out.
But having him exposed, erstwhile helium doesn't adjacent person a information clearance, to each our nation's classified programs, retired of ignorance, helium mightiness springiness distant information. I person had heads of our quality communities accidental to america they're terrified of showing him information. I person had overseas governments explicit immense concern.
The 1 happening we cognize astir Bill Pulte is, helium volition bash immoderate Donald Trump says. He was capable to weaponize backstage owe security information. Giving him the keys to the 18 quality agencies would beryllium a catastrophe and a nationalist information threat.
MARGARET BRENNAN: So, I'm knowing you volition withhold your ballot to reauthorize FISA based connected this?
SENATOR MARK WARNER: Listen, we person to get FISA reauthorized. We were connected a glide way to getting this done.
MARGARET BRENNAN: This is the warrantless surveillance instrumentality for foreigners of interest abroad.
SENATOR MARK WARNER: Well, this is simply a instrumentality that foreigners – listening successful connected foreigners talking to foreigners abroad.
MARGARET BRENNAN: Yes.
SENATOR MARK WARNER: None of this needed to hap if Donald Trump had – helium didn't adjacent travel retired successful enactment of this instrumentality until astir six weeks ago.
If helium enactment guardant Clayton oregon idiosyncratic other six weeks ago, if helium would person done adjacent Jay Clayton a fewer days earlier. I really deliberation Donald Trump wants this instrumentality to expire, due to the fact that helium would past effort to blasted Democrats if – God forbid, if thing happens.
And the singular happening connected this is, normally, we travel connected present and it's Democrats versus Republicans.
MARGARET BRENNAN: Yes.
SENATOR MARK WARNER: This 1 is not.
My Republican colleagues person worked manus successful glove. If determination is thing that happens, God forbid, the work lies with 1 man, Donald Trump.
MARGARET BRENNAN: That is simply a tremendous connection that you deliberation the president really wants this instrumentality to not beryllium accessible.
I mean, it's – the legislature authorization expired connected Friday. Your Republican counterpart Senator Tom Cotton described the consequences arsenic severe, perchance fatal, considering each the wide gatherings successful America close now.
How susceptible is the U.S. close now? Have Google and Verizon and the remainder said, if you travel and inquire maine for information, I won't manus it over?
SENATOR MARK WARNER: What has happened is, those investigations that person already started continue.
MARGARET BRENNAN: OK.
SENATOR MARK WARNER: Our quality to proceed to perceive to atrocious guys talking to atrocious guys overseas continues. The question is whether you tin commencement caller actions.
And we are present – and I person not gotten a study yet whether the telcos and the Googles are going to proceed to adhere oregon whether, due to the fact that they don't person the indemnification, they'll halt participating. We don't person – I don't – arsenic of Sunday morning, I don't person an reply connected that.
I anticipation the Justice Department would usage each the tools they tin to effort to promote them to proceed this programme for what volition be, whether we similar it present oregon not, a short-term lapse.
MARGARET BRENNAN: But Democrats are utilizing their leverage present with FISA to unit the president to alteration his nominees. He did that. So wherefore bash we person a Democrat lasting up and, for example, blocking unanimous consent successful respect to reauthorizing adjacent a short-term surveillance tool?
This seems to beryllium nationalist information hazard of immense proportion.
SENATOR MARK WARNER: National information hazard caused due to the fact that Donald Trump did not enactment guardant Clayton oregon anyone other that was morganatic until the timepiece had tally out.
There is nary question, if you got immoderate of my Republican colleagues here, they would hold this was a White House-created problem. And, finally, idiosyncratic got to Trump and said, you got to enactment a rational idiosyncratic in, not this feline who's not adjacent got a nationalist information clearance.
We volition get Clayton, I hope, confirmed arsenic rapidly arsenic possible.
MARGARET BRENNAN: Yes.
SENATOR MARK WARNER: We volition past determination precise rapidly to get FISA reauthorized. In the interim, I anticipation the telcos volition proceed to cooperate with the government.
MARGARET BRENNAN: Senator Mark Warner, convey you for your clip today.
SENATOR MARK WARNER: Thank you, Margaret.
MARGARET BRENNAN: We volition beryllium close back.
(ANNOUNCEMENTS)
MARGARET BRENNAN: We crook present to Arizona Democratic Senator Mark Kelly, who joins america from Phoenix.
Welcome backmost to Face the Nation.
Senator, I conscionable privation to work thing that the president posted connected his societal media relationship moments agone successful respect to the events contiguous successful Beirut.
He said, the attack, the Israeli "attack connected Beirut, should not person happened, peculiarly connected a peculiar day, erstwhile we are truthful adjacent to a bid woody with Iran. Israel has a close to support itself, but the onslaught it was responding to was precise tiny and meaningless, and each sides should basal down."
That's a antithetic effect than what the caput of defence shared with us. It seems similar the president is disquieted this could disrupt the dialog and the anticipation of a woody being signed. Do you enactment the memorandum of understanding?
SENATOR MARK KELLY (D-Arizona): Well, I haven't seen the details yet, Margaret.
And, you know, I don't cognize if this is simply a peculiar time and if we're precise adjacent to a deal. I bash hold with what the president said astir lasting down. It's evident that we're negotiating with the Iranians astatine this point. I deliberation it's ever important for folks to remember, however did – however did we get here?
We're present because, successful 2018, Donald Trump tore up the JCPOA and got america into an unauthorized warfare with the Iranians, and each this has done for the American radical is driven up costs, the costs of energy, truthful specifically gasoline, the outgo of food.
And this is astatine a clip erstwhile the American radical are having a historical clip conscionable affording their lives.
MARGARET BRENNAN: Well, you questioned Secretary Hegseth past period astir what this warfare did to American subject preparedness, specifically restocking munitions that are depleted by the Iran war.
As I questioned him astir that, helium said it was a media narrative, that I was making it up, but besides said his grounds earlier your committee was speculation. What's the world cheque there? Do we person a munitions problem?
SENATOR MARK KELLY: Well, arsenic Secretary Hegseth said successful beforehand of the Armed Services Committee, of which I'm a member, this volition instrumentality years to rebuild the stockpiles of munitions.
So, of people we person a munitions issue. I mean, it conscionable came from him. And I deliberation it's wide understood that, erstwhile you onslaught implicit 10,000 targets from the aerial with cruise missiles and ballistic missiles and bombs from airplanes, you are utilizing a batch of munitions. And we bash not person an endless proviso of these things.
So, present we're successful a posture wherever we've got to beryllium incredibly careful, and this is besides astatine a clip erstwhile Ukraine continues to request immoderate help. The president present sells munitions to the Europeans because, I think, arsenic everybody understands, this is ever astir the bottommost enactment for him.
But Ukraine is an ally. They've been illegally – illegally attacked by the Russians. And they inactive request our assistance.
MARGARET BRENNAN: Yes.
Well, President Zelenskyy was connected this programme and told america he's waiting connected President Trump to accidental yes to a U.S.-Ukraine drone deal. Do you cognize what the holdup is?
SENATOR MARK KELLY: I bash not astatine this point, and I don't deliberation determination should beryllium a holdup.
I besides hold that we should see immoderate co-manufacturing. Secretary of Defense Pete Hegseth, you know, intelligibly indicated that helium didn't – helium didn't look precise funny successful this.
MARGARET BRENNAN: Yes.
SENATOR MARK KELLY: But if Ukraine is going to triumph – and I got to say, close now, it seems similar the momentum is connected their broadside – they request further assistance from us. So, co-production of immoderate interceptors could beryllium a possibility, but besides assistance with their drone manufacturing.
And this could besides assistance america successful the future. The Ukrainians are truly bully astatine this, and we person a batch we could larn from them.
MARGARET BRENNAN: I privation to travel backmost to thing we were discussing with Senator Warner. And that is the information hazard that is resulting from having this warrantless surveillance program, Section 702, suspended close now.
You, earlier this month, voted against a bipartisan measure extending surveillance authority. You said immoderate short- oregon semipermanent extension, you would not beryllium successful favour of until you lick the Bill Pulte problem.
Hasn't that occupation been solved present that Jay Clayton is the nominee?
SENATOR MARK KELLY: Not completely, because, erstwhile Tulsi Gabbard leaves, we're not truthful definite if the president is going to enactment Bill Pulte successful arsenic the acting DNI.
But this is precise casual to solve. The president could contiguous marque it precise wide to the American radical that Bill Pulte is going to person nary relation successful the Office of the Director of National Intelligence. When I perceive that, past we person a precise straightforward way to getting FISA renewed.
MARGARET BRENNAN: That's the terms of your vote, is that connection from the president himself?
SENATOR MARK KELLY: Well, I mean, you know, I'm perpetually reevaluating the situation.
I worth FISA, particularly 702(b), that allows surveillance of overseas nationals successful different countries.
MARGARET BRENNAN: Yes.
SENATOR MARK KELLY: It is incredibly important to our nationalist security. And erstwhile it lapses, determination is immoderate risk.
But I besides deliberation determination is arsenic much, if not much hazard of putting somebody, Bill Pulte specifically, who is – who is unqualified for this job, Margaret. If you made a database of the 1 cardinal astir qualified Americans for this position, I americium precise assured that Bill Pulte would not beryllium connected that list.
There's hazard successful putting him successful this position. And it's beauteous straightforward close present however – however we lick this.
MARGARET BRENNAN: Well, the proceeding for Jay Clayton, who would beryllium the Senate-confirmed caput of nationalist intelligence, if helium gets each these votes, is this Wednesday.
Are you beauteous overmuch a definite yes? I mean, fixed your absorption to Pulte, you request a solution. It sounds similar this is not a question.
SENATOR MARK KELLY: Hey, I don't cognize Clayton. I mean, I'm reviewing his background. He's got a process to spell through. We request to vet him.
The statute for this occupation says idiosyncratic volition person extended nationalist information oregon quality experience.
MARGARET BRENNAN: Yes.
SENATOR MARK KELLY: Does helium person that? I deliberation it's beauteous wide helium does not. Is helium amended than Bill Pulte? Yes, I deliberation a batch better.
Does helium conscionable immoderate benignant of possibly a minimum, hardly minimum standard? Perhaps. So, I'm looking guardant to Wednesday. He's got to reply immoderate tough, pugnacious questions from the committee. And I volition measure his inheritance and whether oregon not I deliberation he's prepared to bash this job.
MARGARET BRENNAN: Wow.
Meanwhile, determination are truthful galore issues of – of superior interest connected the nationalist information front, 1 of them artificial intelligence. The White House connected Friday came retired and seemed to truly ramp up the quality with Anthropic.
The White House told them to suspend entree to immoderate overseas nationals, which led the institution to suspend each customers from accessing its astir precocious A.I. systems. Do you cognize if determination is an emergency? And is it, arsenic reported by Semafor, due to the fact that determination was suspicion that a China-linked radical had accessed it?
SENATOR MARK KELLY: Well, I haven't officially heard that.
But Mythos and immoderate of their different models from A.I. companies are incredibly capable. And immoderate of the capabilities that these models person to entree systems, not lone national authorities systems, but fiscal systems, is precise concerning to us.
So we've got to instrumentality immoderate clip with these tools and bash extended evaluations arsenic to, what is the hazard to the American radical erstwhile we merchandise these? So I hold with the medication connected this. We've got to beryllium incredibly careful.
And the A.I. companies – and, you know, I deliberation Anthropic is simply a bully illustration – seems to beryllium consenting to enactment with the national authorities connected this to marque definite that we bash not marque a mistake and merchandise thing that we volition aboriginal regret.
MARGARET BRENNAN: Senator Mark Kelly, convey you for your clip today.
We'll beryllium backmost successful a moment.
(ANNOUNCEMENTS)
MARGARET BRENNAN: We're joined present by Gary Cohn, who was the apical economical advisor to President Trump successful his archetypal term. He is presently Vice Chairman astatine IBM.
Good to person you backmost here.
GARY COHN (IBM Vice Chairman, Former Director, White House National Economic Council): Thanks for having me.
MARGARET BRENNAN: So, Secretary Hegseth says didn't springiness a batch of clarity connected the nonstop time. He said some the Strait of Hormuz would beryllium instantly open, but that it could instrumentality up to 30 days.
The bottommost enactment for the system here, it's going to beryllium impacted by what happens with lipid and state prices. Should American consumers expect that the prices they're paying for their nutrient and their state and everything other is going to autumn similar a rock?
GARY COHN: Well, it's not going to autumn similar a stone overnight.
We're going to person to spot precisely what happens successful the straits. It was not wide however rapidly they'll open. But arsenic they bash open, we volition commencement getting a alteration successful psychology. People volition commencement reasoning that prices are going down, and they volition proceed to spell down. When you're successful an upward terms environment, radical thin to capable their tanks up aboriginal due to the fact that they deliberation the terms is going to beryllium higher adjacent week, and they thin to not fto their tanks spell down.
When you're successful an situation erstwhile you deliberation the terms is going to get cheaper, radical thin to thrust their cars till they're astir empty, due to the fact that they think, the longer I wait, the cheaper state volition be. So we're going to beryllium successful a intelligence alteration erstwhile the straits unfastened and arsenic lipid starts flowing out.
We volition commencement to spot immoderate impact. We've really already seen immoderate impact, you know, wherever – wherever state prices are, I won't accidental well, but they're 10 percent disconnected their caller highs.
MARGARET BRENNAN: Yes.
GARY COHN: And if we unfastened the straits, I deliberation we'll proceed to spot these state prices travel down.
But, arsenic you besides constituent out, it's not conscionable the terms of gasoline. It's the terms of groceries. The terms of vigor feeds done the full economy. It feeds done manufacturing. It feeds done delivery. It feeds done everything we devour arsenic regular consumers.
MARGARET BRENNAN: And what you're talking astir successful prices, you're talking astir the terms astatine market. But, for the terms for consumers, if companies person already jacked up the terms of food. Are they truly going to bring it backmost down?
GARY COHN: Well, they volition bring it backmost – the terms of vigor volition travel backmost down.
MARGARET BRENNAN: Yes.
GARY COHN: So the vigor constituent volition travel backmost down. Whether existent nutrient astatine the store volition travel backmost down, you know, it volition instrumentality immoderate time. There's ever – there's ever immoderate pressure, and it takes a archetypal mover to amusement immoderate leadership.
We've seen prices spell up, and past if idiosyncratic wants to bring much and much retail postulation into their store, they thin to chopped the terms of a necessity good. And you, arsenic a consumer, say, hey, that necessity bully is cheaper astatine that store. I past spell into that store, and the different store needs to lucifer their price.
So the unfastened marketplace volition thrust prices down implicit time.
MARGARET BRENNAN: Because, arsenic Senator Warner was talking about, those substance inventories, commercialized substance inventories, they're hitting immoderate risky levels successful July…
GARY COHN: Yes. Yes.
MARGARET BRENNAN: … that could origin a secondary terms cycle. Goldman Sachs said, what, $10 higher per tube than earlier the war, due to the fact that there's this caller information premium built successful here.
GARY COHN: Yes.
MARGARET BRENNAN: Given each the forces you are seeing successful the system close now, bash you deliberation the Federal Reserve tin truly bash the benignant of complaint chopped that President Trump precise publically says is helium wants to see?
GARY COHN: Margaret, look, we person exhausted a batch of the planetary proviso of oil. All the large economies bash transportation an excess reserve, and those excess reserves are astatine comparatively debased levels. So, I recognize what everyone's acrophobic about.
MARGARET BRENNAN: Yes.
GARY COHN: So, getting lipid backmost online present is important.
When it comes to the Federal Reserve, look, we person a caller Federal Reserve chairperson, Kevin Warsh. I deliberation Kevin is wholly acknowledging wherever we are successful the economy. He understands that we've got ostentation astatine three- twelvemonth highs. He besides understands that the occupation marketplace is relative…
MARGARET BRENNAN: Biden levels.
GARY COHN: … comparatively – yes, comparatively strong. And helium besides understands there's unit connected him to little involvement rates.
I deliberation Kevin volition region himself from the governmental pressure, and helium volition bash the close happening economically. Kevin is – you know, this is not his archetypal clip connected the Federal Reserve. He was a Fed politician before. I deliberation Kevin volition attack this arsenic a precise accepted Fed governor. He volition enactment heavy progressive successful his lane successful monetary policy.
I deliberation helium volition enactment extracurricular of the secondary issues that the Fed has gotten successful much recently. And I deliberation helium volition besides beryllium successful a presumption wherever helium volition determination based connected what helium is really seeing successful the economy, not what helium hopes helium sees successful the economy.
MARGARET BRENNAN: But he's besides made wide helium thinks benignant of however we justice the system whitethorn request to alteration and look astatine information differently.
To that point, what we saw this past week with SpaceX was beauteous incredible. Elon Musk is the archetypal trillionaire, with a T. SpaceX, they marque rocket ships. They privation to enactment A.I. information centers successful space. They privation to excavation asteroids.
I mean, it sounds similar it's consecutive retired of the movies, but this was a immense publically traded debut this week, the largest ever. We're going to spot much A.I. companies besides spell public. Where are we successful the boom?
GARY COHN: So, Margaret, this is simply a clip to celebrate.
We should observe America's entrepreneurial spirit. We should observe America's engineering capabilities. We should observe the information that we are solving immoderate of the biggest problems successful the world. And if we successful America were not solving these problems, and the Chinese were, we would, A, beryllium mode down them or, B, paying them to lick our problems, if they were consenting to merchantability america a solution.
So, I look astatine this arsenic a monolithic solemnisation successful American entrepreneurial spirit. As you said, it isn't stopping the SpaceX. And SpaceX is present astir a 25-year-old company, 1 wherever Elon Musk himself said there's a 10 percent accidental this institution adjacent survives.
We present person a fistful of companies, astir of that size, that are changing the mode you and I unrecorded our lives and however we're going to alteration our lives going forward. And these are American-based companies, American entrepreneurs, American technology, and American engineers.
We should beryllium fortunate that we person these companies present domestically, and we're not having to entice them into the United States.
MARGARET BRENNAN: But what – what they're facilitating with this transformation, there's this full statement astir whether it's bully oregon atrocious for American workers.
"The Wall Street Journal" editorial board, conservative-leaning, arsenic you know, was extolling the payment of SpaceX creating jobs for working-class communities…
GARY COHN: Yes.
MARGARET BRENNAN: … and said they gave banal options to their workers, truthful they made blue-collar workers arguably millionaires, right, by doing thing similar that.
Is that – I mean, this is simply a peculiar case, clearly. But what is the interaction connected blue-collar workers?
GARY COHN: So, you're talking astir A.I. successful general.
MARGARET BRENNAN: A.I. generally.
GARY COHN: So, look, there's a ample statement going connected successful the system today, successful concern today. And the statement is, is this clip antithetic oregon is this clip the same?
I'm successful the campy that this clip is the same. And what I mean by that is, if you look backmost astatine each of the large technological advancements that we person lived done and earlier we were alive, we work stories astir however this was the extremity of employment.
MARGARET BRENNAN: Yes.
GARY COHN: If you spell backmost to the fabric gin, oregon the interior combustion engine, oregon the telephone, oregon the compartment telephone oregon the Internet, each of these technological inventions were expected to beryllium the demise of quality capital.
I deliberation what we person recovered successful the past is, they're not the demise of quality capital. What happens is, the gross home product, the GDP of the state grows. As it grows, we make much and much jobs. And I deliberation that's what's going connected here.
There's different improvement that's arsenic arsenic important here. The largest companies successful America historically person been asset-light companies, and they've been intelligence property-heavy. The largest companies successful America contiguous are becoming…
MARGARET BRENNAN: Yes.
GARY COHN: … a operation of asset-based companies and intelligence companies. The assets request to beryllium built by people.
MARGARET BRENNAN: OK.
Gary Cohn, bully to person your insights, arsenic always.
We volition beryllium close back.
(ANNOUNCEMENTS)
MARGARET BRENNAN: Before we spell today, a speedy update connected a communicative we person been tracking.
President Trump's sanction was removed yesterday from the facade of the Kennedy Center present successful Washington, D.C., aft a tribunal ruling past period ordered it to beryllium taken down, declaring Congress gave the Kennedy Center its name, and lone Congress tin alteration it.
A assemblage of radical gathered Friday nighttime waiting to ticker its removal. In the end, the sanction of the 45th and 47th president adorned the gathering for astir six months. It was installed successful December aft the center's committee controlled by the president's handpicked trustees voted to rebrand with the summation of the Trump moniker.
That's it for america today. Thank you each for watching.
Until adjacent week, for Face the Nation, I'm Margaret Brennan.
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