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Trump says MOU is ‘over’, calls Iranian leaders ‘scum’ following latest strikes

U.S. President Donald at the NATO Summit on July 08, 2026 in Ankara, Turkey. (Photo by Win McNamee/Getty Images)

(ANKARA and LONDON) — President Donald Trump said on Wednesday morning that he believes that the interim agreement reached with Iran last month is “over,” following an intense exchange of fire between the two sides on Tuesday into Wednesday morning.

Trump huddled with top advisers on Tuesday while attending the NATO summit in Ankara, Turkey, to discuss the U.S. response to several fresh attacks on commercial ships in the Strait of Hormuz early this week, multiple people familiar with the discussions told ABC News.

The U.S., Qatar and Saudi Arabia attributed the attacks to Iranian forces, allegations denied by Tehran.

Speaking with reporters in Ankara on Wednesday during a press conference alongside NATO Secretary General Mark Rutte, Trump said that negotiations between the U.S. and Iran will continue, but said of the agreement, “For me, I think it’s over.”

“I don’t want to deal with them anymore. They’re scum. You know what scum is? They’re scum. They’re sick people. They’re led by sick people,” Trump said of Iran’s leadership in response to a question from ABC News.

“And they’re vicious, violent people. And if they had a nuclear weapon, they’d use it. As far as I’m concerned, it’s over,” the president continued. “There’s something wrong with them, they’re cuckoo,” Trump added.

The president did, however, suggest that U.S.-Iranian negotiations over a final peace deal could continue.

The 14-point MOU committed the signatories to the reopening Strait of Hormuz for commercial traffic, with the U.S. lifting its naval blockade of Iranian ports. Iran also committed not to pursue nuclear weapons — a commitment Tehran has previously made — while the U.S. agreed to allow Iranian oil sales and to begin work on a $300 million reconstruction fund for the country.

Under the MOU, fighting — including between Israel and the Tehran-backed Hezbollah militia in Lebanon — would stop for 60 days while the U.S. and Iran negotiate the terms of a final deal, which would cover issues including Iran’s nuclear material.

“I’ll speak to our negotiators. They want to negotiate. They’re good people. Steve Witkoff, Jared Kushner, but they have to come back to me. As far as I’m concerned, it’s just a waste of time dealing with them,” Trump said on Wednesday.

“I’ll let our wonderful negotiators keep talking if they want, but I don’t see it,” Trump said later in the press conference, adding that he did not care whether talks continued after funeral proceedings for slain Supreme Leader Ayatollah Ali Khamenei concluded.

When the MOU was signed last month, Trump said the deal “achieves everything we set out to accomplish, everything and much more.” But key issues, including the status of Iran’s nuclear program, remained unaddressed.

The White House has demanded an end to all Iranian enrichment of uranium, a proposal repeatedly rebuffed by Tehran, which says it needs to enrich uranium to power its civil nuclear power network.

On Wednesday, the president again said his administration would accomplish the “denuclearization of Iran.”

“We’re going to de-nuke it. We’re not going to let them, because they’re crazy, and they can’t have a nuclear weapon,” Trump said.

Intermittent exchanges of fire have continued between the U.S. and Iran despite the signing of the MOU in June.

Since Monday, U.S. Central Command said Iran had attacked three commercial vessels transiting the Strait of Hormuz.

CENTCOM said it then launched retaliatory strikes on more than 80 Iranian targets, including air defense systems, command and control networks, coastal radar sites, anti-ship missile capabilities and small boats.

The U.S. also revoked a license that authorized the sale of Iran oil under the MOU in response to the tanker attacks, with one U.S. official telling ABC News that the incidents were “wholly unacceptable.”

Iran’s military said on Wednesday that it responded to the renewed American strikes by attacking 85 U.S. military sites in Kuwait and Bahrain.

Trump on Wednesday lauded what he called the “powerful” U.S. strikes, adding, “We hit them very hard.”

“I told them every time you hit, we hit, and of course they’re dirty players, so they go after everyone, probably including me,” the president continued, referring to alleged Iranian assassination plots in which Trump said he remains a target.

“They want to take out the U.S. leader — me. I’m on every list. I saw things this morning, I’m on every single one of their lists, and so far I guess I’ve been a little bit lucky, but that maybe doesn’t last very long, because that’s the way it goes,” Trump said.

Mohammad Bagher Ghalibaf, the speaker of the Iranian parliament who has been serving as Tehran’s chief peace negotiator, said in a post to X early on Wednesday that the U.S. had violated the MOU with its latest strikes.

“The era of bullying and extortion is over. It leads nowhere. We don’t fold,” Ghalibaf wrote.

Oil prices spiked on Wednesday after Trump’s comments, with U.S. oil trading at $74.62, up around 6%, and global oil at $78.70, up more than 6%. The price of global oil is still significantly down on a high of nearly $120 last month before the MOU was announced.

Traffic has been moving through the Strait of Hormuz in recent weeks, including through Tuesday despite the latest attacks on ships. Data from Kpler, a global energy analytics firm, showed more than 100 transits of ships through the Strait between July 5 and July 7, including 41 crossings on July 7.

ABC News’ Rachel Scott, Karen Travers, Justine Fishel, Isabelle Murray, Sarah Kolinovsky and Zunaira Zaki contributed to this report.

Copyright © 2026, ABC Audio. All rights reserved.

Young Americans have higher credit scores today than before Covid

New York (CNN) — Kelly Klein graduated from college with $100,000 in student loans that she feared would haunt her forever.“I expected I’d never pay off my student debt,” said Klein, who is 31 years old.But flash forward 10 years and Klein is now debt-free, her retirement account is flush and her credit score is pristine.“Every commission check I earned for the first six years went to paying off my debt. Every single penny,” said Klein, who is based in Nashville, Tennessee, and works as a loan officer at a community development financial institution.While millions of Americans are hurting from high prices and low hiring, new research suggests the finances of younger generations are displaying surprising resilience.Americans between the ages of 18 and 29 have higher credit scores today than they did just before Covid-19, according to FICO research shared first with CNN.Not only that, but that youngest generation’s 17-point increase in average credit scores since 2019 is the biggest among any age group FICO measured. The second biggest increase in credit scores over that timeframe was for the 30-to-44 cohort, otherwise known as Millennials.Most of the gains occurred during the initial stages of the health emergency when student loan payments were paused.Experts say younger Americans have benefited from access to better education about the importance of protecting credit scores to hold down payments later in life.“Gen Z is pretty savvy about credit. And they are more aware of credit scores, in part because there have been so many economic headwinds during their lives,” said Matt Schulz, chief credit analyst at LendingTree.‘A lot more knowledge’Overall FICO scores fell slightly between April 2025 and April 2026. However, credit scores for Gen Z are up by one point over that timeframe and roughly half have a very strong FICO score of 700 or above.Klein, who is a Millennial, said she learned valuable lessons about finance and investing from experts on social media. Klein also said she joined a free webinar on opening a brokerage account and familiarized herself with tax strategies and how to maximize credit card rewards.“We have a lot more knowledge than previous generations did. A lot of it was gate-kept, especially from women, and tailored toward men. Luckily, I feel like financial education is more available,” she said.Another factor: Younger borrowers are at or near the beginning of their credit journeys, giving them the most room to grow their credit scores. FICO said it doesn’t take into consideration age when scoring borrowers, but it does evaluate how long someone has been able to successfully make payments on time.As consumers take on different kinds of debt — moving from just credit cards and student debt to car loans and mortgages — they open themselves up to being better borrowers. That’s a key factor in determining credit scores.Schulz compared younger Americans increasing their credit scores with a new driver borrowing Mom or Dad’s car.“The first few times they might put some real restrictions on you. But if you show you can handle it over time, they might not think at all about letting you borrow the car. Credit is very similar,” Schulz said. “Having time and experience handling credit responsibly leads to credit scores being higher.”K-shaped economy is evidentMore emphasis on being responsible borrowers may help explain why, at a high level, average credit scores for younger Americans have held up better than might be expected in today’s economic environment, where high-income earners have seen their wealth grow faster than low-income earners.As of April, nearly half (49.6%) of borrowers aged 18-29 had a strong credit score of 700 or above, according to FICO. That’s up from 41.4% in April 2020.However, there are disparities beneath the surface that underscore the K-shaped economy.For instance, FICO said the score distribution for 18-29 year olds has shifted toward both higher and lower scores “rather than clustering in the middle.”In other words, high credit scores today for young people are higher than in 2019 — but so are low ones.“There’s a lot of fragmentation among Gen Z. Many of them are thriving. Some are struggling and relying on support from parents. We’re definitely seeing a K-shaped economy,” said Tommy Lee, senior director at FICO.3.2 million borrowers are behind on student debtOne pressure facing younger Americans is the spike in housing costs driven by elevated mortgage rates and record-high home prices.The average monthly mortgage payment for a first-time homebuyer is 57% higher than in 2019, according to FICO.Another arguably bigger factor is the return of student debt payments and credit bureau reporting after a Covid-era pause.As of April, about 3.2 million Americans of all ages with a student loan payment due (or 14%) had a recent delinquency (30 days or more past due) reported in the prior six months, according to FICO.Those borrowers who fell behind on their student loans and were deemed delinquent saw their FICO score decline by an average of 38 points.By contrast, another 4.9 million borrowers either resolved a delinquency or moved into another repayment status, such as starting a repayment plan. Those consumers experienced an average credit score increase of 16 points, according to FICO.Schulz, the LendingTree expert, stressed that missed payments carry severe consequences that can haunt borrowers for many years — especially when they need to get a mortgage.“It really only takes one payment 30 days or more late to really do damage to your credit score,” he said.The-CNN-Wire™ & © 2026 Cable News Network, Inc., a Warner Bros. Discovery Company. All rights reserved.
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