Sport Investors League
  • Politics
  • Stocks
  • Investing
  • Business

Sport Investors League

  • Politics
  • Stocks
  • Investing
  • Business
Politics

NATO leaders predict era of 2% defense spending ‘probably history’ as Trump reportedly floats higher target

by admin December 24, 2024
December 24, 2024
NATO leaders predict era of 2% defense spending ‘probably history’ as Trump reportedly floats higher target

A group of four NATO leaders and a representative from the European Union on Sunday said they agreed it was time to invest more in defense spending as Russia remains a chief security threat in Europe amid the war in Ukraine, and as Western leaders brace for the incoming Trump administration. 

Greek Prime Minister Kyriakos Mitsotakis argued the era of spending 2% of a nation’s GDP on defense was ‘probably history’ but he, along with the other four leaders in attendance at the North-South Summit in Lapland, Finland fell short of saying what that figure should look like. 

‘We know that we need to spend more than 2%,’ Mitsotakis said. ‘But it will become very clear… once we interact with the new president, what is the figure that we will agree on within NATO.’

The summit was convened by Finnish Prime Minister Petteri Orpo, and was also attended by Swedish Prime Minister Ulf Kristersson, Italian Prime Minister Giorgia Meloni and European Union foreign policy chief Kaja Kallas.

The leaders were questioned about a recent report by the Financial Times that said President-elect Donald Trump intends to push NATO to increase its defense spending requirement from 2% to 5% — a requirement that would demand all nations, including the U.S. which spends just over 3% of its GDP, to drastically increase spending on defense.

The Trump transition team did not answer Fox News Digital’s questions on whether Trump is going to be pushing all NATO nations, including the U.S., to drastically ramp up defense spending.

Instead, a spokesperson for the Trump transition team said, ‘President Trump believes European nations should meet their NATO defense spending obligations and step up their share of the burden for this conflict, as the U.S. has paid significantly more, which is not fair to our taxpayers. He will do what is necessary to restore peace and rebuild American strength and deterrence on the world stage.’

Fox News Digital also could not get clarity over whether an increase in defense spending would be supported by GOP lawmakers given the large number of conservatives in Congress, as well as his Vice President-elect, who have called for cutting U.S. aid to Ukraine, as well as last week’s internal fighting in the House among Republican lawmakers over spending disagreements. 

Even as NATO leaders at the North-South Summit agreed Russia is Europe’s ‘greatest threat,’ they urged caution when it came to dealing with ‘rumors’ surrounding the incoming Trump administration. 

‘I would wait to understand exactly what is the real will of the new president of the US,’ Meloni said, according to a Bloomberg report. ‘On NATO, we all know and understand that we have to do more. A lot of what we can do is up to the tools that we are able to put on the table.’

The Finnish prime minster echoed a similar sentiment and said, ‘Europe has to take greater responsibility for its own security. This means that European countries have to be strong leaders, both in the EU and in NATO.

‘[Russia] is trying to consolidate power and sow discord in Europe. The geopolitical situation is also very challenging in the Middle East and North Africa, for example,’ Orpo added, according to Euro News. 

Kristersson said spending more on defense was important, in part, so that European nations were less dependent on the U.S. being ‘the main sponsor’ of the alliance’s defense, but also to show Washington that European nations do take defense ‘seriously.’

‘European countries — individually, most of us, and collectively — need to strengthen our defense. And let’s do that,’ he said. 

Trump during his first administration pushed NATO leaders to meet their 2% defense spending pledge, which several did — increasing the number of allies to meet the terms of the NATO agreement from five in 2016 to nine in 2020.

But that number dropped to just six once Trump left in 2021.

By 2022, however, NATO leaders have once again began re-evaluating their defense budgets following Russia’s invasion of Ukraine, and by 2024, a historic number of NATO allies had met their spending agreements, with 23 out of 32 nations spending at least 2% of their GDP on defense. 

Only Poland spends over 4% of its GDP on defense, while four nations spend over 3%, including Estonia, the U.S., Latvia and Greece. 

Croatia, Portugal, Italy, Canada, Belgium, Luxembourg, Slovenia and Spain have yet to meet their defense spending commitments.

This post appeared first on FOX NEWS

0
FacebookTwitterGoogle +Pinterest
previous post
‘Independent-minded’: DCCC chair reveals blueprint for winning back majority during 2026 midterms
next post
Iran recruiting children to attack Israeli targets across Europe amid setbacks: report

Related Posts

Top Harris aide hypes radical activist who said...

December 17, 2024

US needs a new Monroe Doctrine — this...

June 16, 2025

SCOOP: Sen Ron Johnson readies subpoenas for FBI,...

July 11, 2025

President Trump urged to confront Iranian regime over...

February 17, 2025

ABC’s shameless debate didn’t even survive its own...

September 21, 2024

House Republicans agree on Plan B government funding...

December 20, 2024

Jill Biden gushes over president’s debate performance despite...

June 29, 2024

Here’s what happened during President Donald Trump’s eighth...

March 16, 2025

Department of Justice freezes all civil rights division...

January 23, 2025

Trump blasts Biden’s DOJ: They tried to turn...

March 15, 2025

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent

    • Israel slams UN for ignoring aid already in Gaza while demanding more

      July 16, 2025
    • Trump accuses ‘scam artist’ Schiff of lying about Maryland home to commit mortgage fraud

      July 16, 2025
    • House GOP subpoenas Biden aide to testify about former president’s concerning mental fitness

      July 16, 2025
    • Democrats capitalize on GOP Jeffrey Epstein fallout with new demands for Jim Jordan

      July 16, 2025
    • Senate GOP agree to strip cuts to HIV, AIDS prevention program from Trump’s clawback bill

      July 16, 2025

    Categories

    • Business (1,023)
    • Investing (2,617)
    • Politics (3,233)
    • Stocks (1,136)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: sportinvestorsleague.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 sportinvestorsleague.com | All Rights Reserved