Dismissal from NATO, the US attacks Iran and Le Pen is back

Hello, this is Leonie Kidd coming to you from London.

Welcome to the Daily Open newsletter, a special edition featuring dispatches from CNBC anchor Steve Sedgwick in Ankara, Turkey, at the controversial NATO Summit.

ANKARA, TURKEY – So how did European NATO leaders fare on Day One of the NATO Summit in Ankara, Turkey, known as Operation “Keep Donald Trump Out”?

Well, it’s not bad in terms of trying to show how much money Europe spends on its defense, as a number of multi-billion dollar deals have been announced with the world’s biggest military contractors.

In fact, if this summit was to prove to the US that there is a plan and it is being implemented – that the 5%-of-GDP commitment is not a far-fetched illusion and that real efforts to get there are underway – then Tuesday could have been a slam dunk of the day in Europe.

The so-called “Trump Whisperer in Chief” NATO Secretary General Mark Rutte was again at the forefront of the proceedings, praising the progress made in “removing the burden” of European defense away from the other side of the Atlantic.

And yet, as that European military expert Helmuth Von Moltke said more than a century ago: “No plan survives first contact with the enemy” (I prefer this version to Mike Tyson: “Everybody has a plan until they get punched in the face”).

Not that President Donald Trump is the enemy here, but he certainly is a a major challenge for European leaders trying to hold NATO together.

The problem is, while Rutte et al tried to dissuade Trump from spending, the US president brought up another old bone of contention when he came up again during his press conference with President Recep Erdogan of Turkey, saying that he felt that the US should control Greenland.

Greenland again! European leaders must have thought someone was put to sleep in Davos in January, but now he’s back. Who saw that one coming? Mark? Ursula? Friedrich? Emmanuel?… No, I wasn’t thinking.

Game of whack-a-mole, anyone?

– Steve Sedgwick

The news flow on NATO continues to come, and Trump made one of the boldest threats to his European allies to date: “We can remove all our troops from Europe.” His comments at the NATO Summit come after he renewed his call for the US to buy Greenland, saying “it should be controlled by the United States, not Denmark.”

Ukraine has also raised the agenda of NATO, amid a new wave of attacks between Kyiv and Moscow. Speaking to CNBC, Finnish President Alexander Stubb said Ukraine is already winning by maintaining its sovereignty for more than four years, while Swedish Prime Minister Ulf Kristersson said: “Time is not on Russia’s side right now.”

Oil prices rise in early trade after the US launched “stronger strikes” against Iran. The US Navy said it had taken action against Tehran after dozens of commercial vessels were hit by Iranian missiles in the Strait of Hormuz.

The US Treasury also revoked its approval of Iranian oil sales following the attack.

“Iran will only agree if it shows good behavior,” a U.S. official told CNBC, speaking on condition of anonymity to discuss private negotiations. “Iran’s actions in the Strait were totally unacceptable to the United States and they will face consequences.”

Futures in the US and Europe were little changed in early trading as investors assessed developments. It’s a broadly negative session for stocks across the Asia-Pacific.

In the UK, far-right politician Nigel Farage, leader of Reform UK, has resigned as a member of parliament, sparking a special election he will call “the people against the establishment”. But his gamble may not pay off, as rival parties including Labour, the Conservatives and the Liberal Democrats say they will not be able to field candidates, meaning victory may seem unlikely.

— Leonie Kidd

Chrysler parent Stellantis on Tuesday said it has opened orders for its small electric Fiat Topolino in the US, starting at $13,995.

Although the Topolino looks like a small car like the Fiat 500, the EV is actually a quadricycle that doubles as a golf cart.

Stellantis said the Topolino can travel up to 19 mph, with an electric range of up to 46 miles. A low-speed conversion kit can increase the top speed to 25 mph to make it street legal on roads with speed limits of 35 mph or less, according to the trans-Atlantic automaker.

– Michael Wayland