Bull Hedging
  • Politics
  • Stocks
  • Business
  • Investing
  • Politics
  • Stocks
  • Business
  • Investing

Bull Hedging

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

previous post
Iran’s weakened position could lead it to pursue nuclear weapon, Biden national security adviser warns
next post
Iran recruiting children to attack Israeli targets across Europe amid setbacks: report

Related Posts

Trump targets massive investments in first Middle East...

May 13, 2025

Minnesota fraud case is ‘canary in the coal...

January 28, 2026

Ex-National Security Advisor John Bolton indicted with improper...

October 17, 2025

DOJ seeking suspect after attack on US Attorney...

November 14, 2025

White House unleashes on Stacey Abrams in latest...

April 7, 2026

Trump, eyeing 3rd term, keeps attacking elite institutions...

April 1, 2025

‘Refuse to be their puppet’: Top 5 moments...

January 31, 2025

Trump begins second term in stronger position than...

January 30, 2025

Biden White House to send $1.25 billion in...

December 28, 2024

‘Squad’ Dem dishes out campaign cash to anti-Israel...

October 30, 2025

Recent Posts

  • Paramount accuses Netflix of ‘scorched-earth’ campaign against Warner Bros. deal
  • Team USA’s loudest supporters say FIFA pushed them to upper deck for World Cup
  • Jozy Altidore, now a broadcaster, is bullish on the U.S. making a deep World Cup run
  • Trump administration cites forced labor concerns as grounds for new tariffs
  • Congress invites NFL Commissioner Roger Goodell to testify about league’s use of streaming services

Recent Comments

No comments to show.

About Us

About Us

Design Magazine

Welcome to Design Magazine. Follow us for daily & updated design tips, guide and knowledge.

Stay Connect

Facebook Twitter Instagram Pinterest Youtube Email

Recent Posts

  • Paramount accuses Netflix of ‘scorched-earth’ campaign against Warner Bros. deal

    June 10, 2026
  • Team USA’s loudest supporters say FIFA pushed them to upper deck for World Cup

    June 5, 2026
  • Jozy Altidore, now a broadcaster, is bullish on the U.S. making a deep World Cup run

    June 4, 2026
  • Trump administration cites forced labor concerns as grounds for new tariffs

    June 4, 2026
  • Congress invites NFL Commissioner Roger Goodell to testify about league’s use of streaming services

    June 3, 2026
  • Jerome Powell warns politicizing the Federal Reserve would cost public trust

    June 2, 2026

Editors’ Picks

  • 1

    Environmental Approval for Boland Infield Studies & Update on Scaled Column ISR Test

    September 19, 2025
  • 2

    Small Caps are Set to Skyrocket in 2025—Here’s What You Need to Know

    December 12, 2024
  • 3

    Challenger Gold Doubles Ecuador Resource to 9.1¹ Million Ounces Gold Equivalent²

    April 9, 2025
  • 4

    Trump leaves China guessing what his next move is with unusual inauguration invitation

    December 15, 2024
  • 5

    Ad revenue should stabilize for media companies in 2025 — if they have sports

    December 31, 2024
  • 6

    Zinc Stocks: 4 Biggest Canadian Companies in 2025

    January 15, 2025
  • 7

    Zelenskyy thanks NATO, European leaders for backing his push to join Trump‑Putin summit

    August 11, 2025
Promotion Image

banner

Categories

  • Business (688)
  • Investing (3,251)
  • Politics (4,077)
  • Stocks (1,072)
  • Terms and Conditions
  • Privacy Policy

Copyright © 2026 bullhedging.com | All Rights Reserved