President Barack Obama said he would accept a piecemeal approach to overhauling the immigration system, a shift from calls for comprehensive reform, during an interview with Washington Bureau Chief Gerald F. Seib at The Wall Street Journal’s CEO Council meeting Tuesday. During his 45-minute appearance, Mr. Obama also discussed the health-law rollout, gridlock in Washington, corporate tax reform, the budget and prospects of a deal with Iran. Watch the full interview and excerpts.