NATO allies agree to hike defence spending by 5%

NATO leaders agreed on Wednesday on a massive hike in defence spending after pressure from US President Donald Trump, and expressed their “ironclad commitment” to come to each other’s aid if attacked.

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The 32 leaders endorsed a final summit statement saying, “Allies commit to invest 5 per cent of GDP annually on core defence requirements as well as defence- and security-related spending by 2035 to ensure our individual and collective obligations.”

Spain had already officially announced that it won’t be able to meet the target, and others have voiced reservations, but the investment pledge includes a review of spending in 2029 to monitor progress and reassess the security threat posed by Russia. Trump said Putin wanted to settle war in Ukraine. “He’d like to get out of this thing. It’s a mess for him,” Trump said of the Russian president. “He called the other day, and he said, Can I help you with Iran?’ I said no, you can help me with Russia.’”