President Trump holds news conference from NATO summit in Ankara — 7/8/2026

Summary

President Trump held a press conference from a NATO summit in Turkey, boasting about increased NATO defense spending to 5% of GDP, which he says will benefit US defense contractors. He also predicted oil prices will drop due to a supply glut, touted a US manufacturing renaissance fueled by tariffs on steel, aluminum, and autos, and discussed the Iran conflict and denuclearization.

• NATO members are raising defense spending toward 5% of GDP, with $150B extra in 2025, much spent on US equipment.
• New defense deals announced: Lockheed Martin Patriot sustainment facility in Europe, Northrop Grumman drone tech, Raytheon missile partnerships.
• Trump says oil prices are set to fall, citing a glut and quick resolution of Iran tensions.
• US steel industry described as revived and 'through the roof' due to tariffs.
• Largest aluminum plant in the world to be built in Oklahoma, signaling a US aluminum comeback.
• Tariffs driving auto and other manufacturers to build plants in the US, with Toyota moving from Mexico to Texas.
• Iran's military capabilities largely destroyed, nuclear program blocked; Trump says Iran will never have a nuclear weapon.