• Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock
Editor's Pick

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

by December 24, 2024
written by December 24, 2024

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 comment
0
FacebookTwitterPinterestEmail

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 articles

Rubio designates Afghanistan as ‘state sponsor of wrongful...

March 11, 2026

Speaker Johnson touts Trump’s agenda as crucial blueprint...

March 11, 2026

US strike on key Iran oil hub would...

March 11, 2026

DOJ blasts ‘partisan’ DC Bar complaint against senior...

March 11, 2026

Putin caught executing enormous ‘semi-dark’ ship-to-ship oil transfer...

March 10, 2026

Democrats threaten to grind Senate to a halt...

March 10, 2026

After her father’s addiction led to a $91K...

March 10, 2026

McIntosh: Midterms a choice between Trump’s ‘great progress’...

March 10, 2026

Iran regime cited as Trump admin set to...

March 10, 2026

Where American support for Trump’s Iran strikes stand...

March 10, 2026
Enter Your Information Below To Receive Free Trading Ideas, Latest News, And Articles.


Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest News

  • ‘Coming for us’: Expert sounds alarm on CCP’s mission to ‘kill Americans’ after FBI makes shocking arrests

    June 5, 2025
  • Who is Yahya Sinwar? The Israeli prisoner turned terrorist Hamas leader who is suspected dead

    October 17, 2024
  • Obama to headline 2nd night of Democratic National Convention

    August 20, 2024
  • Nuclear watchdog urges ‘trust but verify’ that Iran engages in good-faith negotiations

    April 23, 2025
  • Trump offers Iran choice: Drop nuclear weapons or face ‘maximum pressure’

    May 13, 2025

Popular Posts

  • 1

    District judges’ orders blocking Trump agenda face hearing in top Senate committee

    April 2, 2025
  • 2

    Secret Service admits leaning on ‘state and local partners’ after claim it ignored Trump team’s past requests

    July 21, 2024
  • 3

    Five more House Democrats call on Biden to drop out, third US senator

    July 19, 2024
  • 4

    Forex Profit Calculator: Maximize Your Trading Potential

    July 10, 2024
  • 5

    Elon and Vivek should tackle US funding for this boondoogle organization and score a multimillion dollar win

    December 4, 2024

Categories

  • Economy (829)
  • Editor's Pick (8,362)
  • Investing (1,121)
  • Stock (981)

Latest Posts

  • Why ABC brings back Jimmy Kimmel today after its debacle over free speech

    September 23, 2025
  • Delegates from Iran, US holding talks in Oman amid ongoing tensions: What to know

    April 12, 2025
  • The confirmation juggernaut: How Trump is getting everything he wants in building his Cabinet

    February 10, 2025

Recent Posts

  • Scalise reveals post-shutdown GOP battle plan as House readies for intense new schedule

    November 12, 2025
  • Trump envoy Witkoff and Jared Kushner in Geneva for closely watched Iran negotiations

    February 26, 2026
  • Pro-life groups sound off after Trump says he will not restrict abortion pills: ‘Serious and growing threat’

    December 9, 2024

Editor’s Pick

  • Storm Debby Brings Heavy Rainfall, Flooding to Carolinas

    August 9, 2024
  • Trump’s whirlwind week ahead to include meeting with NATO chief, ‘major’ announcement on Russia

    July 14, 2025
  • Trump’s NATO warning pushes Europe to face the cost of defending itself

    January 26, 2026
  • About us
  • Contacts
  • Privacy Policy
  • Terms & Conditions

Disclaimer: moneyrisetoday.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 moneyrisetoday.com | All Rights Reserved

Money Rise Today – Investing and Stock News
  • Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock