NATO Members Must Commit to Timetable for Higher Defense Spending Target, Chief Says -- Market Talk

Dow Jones
02-14

1238 GMT - NATO members must commit to a "strong timetable" to meet a higher defense spending target when they meet in the Hague for the alliance's annual summit on June 24-25, NATO's Secretary General Mark Rutte tells reporters on the sidelines of the Munich Security Conference. NATO countries must avoid the mistake of 2014, when they agreed to increase spending to 2% of their gross domestic product, but didn't set a timetable, leaving significant increases on hold until Donald Trump became the U.S. President for the first time in 2017, Rutte says. Trump recently called on NATO allies to spend 5% of their GDP, a figure that none of the 32 alliance members currently meets, not even the U.S. (cristina.gallardo@wsj.com)

 

(END) Dow Jones Newswires

February 14, 2025 07:38 ET (12:38 GMT)

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