CBS's Smith: Obama's 'Historic' Nuke Summit 'Already Yielded Some Quick Results'

At the top of Tuesday's CBS Early Show, co-host Harry Smith proclaimed: "At an historic summit, President Obama joins world leaders to try to stop terrorists from obtaining nuclear weapons." He later declared: "It's the largest gathering of world leaders hosted by a U.S. President since the 1945 conference that founded the United Nations. And it's already yielded some quick results."

White House correspondent Chip Reid reported on some of those "quick results": "Ukraine announced it will send its entire stockpile of highly enriched uranium, enough to build several nuclear weapons, out of the country, perhaps to the United States, by 2012....China...has shown a new willingness to consider sanctions against Iran, but is still reluctant to fully endorse them because it gets so much of its oil from Iran." In a news brief at the top of the 8AM ET hour, fill-in news reader Betty Nguyen mentioned another dangerous regime giving up its nuclear stockpile: "Canada announced it's returning a significant amount of its spent nuclear fuel to the U.S."

In concluding his report, Reid touted: "Now, at most international summits, they try to lower expectations to kind of soften the disappoint of not accomplishing much. At this summit, the President is taking the opposite approach. He is building up expectations, promising that by the end of the day, there will be a concrete plan of specific actions to lock up those loose nukes." Given that dealing with rogue states like Iran and North Korea are not subjects of the summit, it is unclear how much will really be accomplished at the meeting.

Here is a full transcript of Reid's report:

7:00AM TEASE

HARRY SMITH: At an historic summit, President Obama joins world leaders to try to stop terrorists from obtaining nuclear weapons. But is it too late? We'll bring you the latest from the White House.

7:03AM SEGMENT

HARRY SMITH: Now to Washington, and specifically the White House, where President Obama's nuclear summit wraps up today. It's the largest gathering of world leaders hosted by a U.S. President since the 1945 conference that founded the United Nations. And it's already yielded some quick results. CBS News chief White House correspondent Chip Reid has the latest. Chip, good morning.

CHIP REID: Well, good morning, Harry. The President is working on two fronts at this summit. Publicly, he is pushing these 46 nations to sign on to measures to lock up those loose nuclear materials all around the world, enough to make 120,000 nuclear bombs. Privately, he's spending a lot of time pushing China to sign on to U.N. sanctions against Iran. Groups like Al Qaeda are aggressively trying to obtain loose nuclear materials and would not hesitate to use them, according to the President's top terrorism adviser.

JOHN BRENNAN: We cannot wait any longer before we lock down these stockpiles.

[ON-SCREEN HEADLINE: Nuclear Threat; Obama, World Leaders Focus On Rogue Nukes]

REID: A step in that direction, Ukraine announced it will send its entire stockpile of highly enriched uranium, enough to build several nuclear weapons, out of the country, perhaps to the United States, by 2012. In an hour and a half sideline meeting with China's president, Hu Jintao, President Obama stressed the need for quick action against Iran's nuclear program. China, which is key because it has veto power in the United Nations Security Council, has shown a new willingness to consider sanctions against Iran, but is still reluctant to fully endorse them because it gets so much of its oil from Iran. CBS News national security analyst Juan Zarate says failure to stop Iran's nuclear program could have catastrophic consequences.

JUAN ZARATE: If Iran acquires nuclear weapons or the expertise, you will see a nuclear arms race in the heart of the Middle East, with Sunni Arab states like Saudi Arabia, Egypt, the United Arab Emirates, feeling the need to compete with Iran and develop their own nuclear material.

REID: Now, at most international summits, they try to lower expectations to kind of soften the disappoint of not accomplishing much. At this summit, the President is taking the opposite approach. He is building up expectations, promising that by the end of the day, there will be a concrete plan of specific actions to lock up those loose nukes. Harry.

SMITH: We'll look for you on the Evening News tonight then, Chip. Thanks very much.

REID: You bet.

SMITH: Chip Reid.