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)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.