A major focus of our conversations at the summit was the need for other NATO members to take up the burden of the defense of Europe, and that includes the financial burden. As you know, it was a 2% and we got it up to 5%. And they said a couple of them came up to me.One in particular said, Sir, we've been trying to get it up to 3% for 20 years and we haven't been able and you got it up to 5%. So they're going to be most of them, I guess almost all of them are going to be contributing now 5%, a number that. ...

very historic milestone. This week, the NATO allies committed to dramatically increase their defense spending to that 5% of GDP. Something that no one really thought possible.And they said, "You did it, sir. You did it." Well, I don't know if I did it, but I think I did. This will be known as the HEG Defense Commitment, which is pretty good, pretty appropriate. When the allies reach this number, it will add more than $1 trillion a year.Think of that 1 trillion per year to our common defense. And this is a m ...

As we await President Trump's news conference at the NATO summit, let's get over to Megan Cassellar for more. Megan, hey guys, good morning. So, this is a news conference that will wrap up a very quick trip by the president to the Netherlands, spending less than 24 hours there for the NATO summit, but we do expect him any moment.He's had a series of pull aides this morning with the head of NATO, uh, the leader of the Netherlands. Ukrainian President Vladimir Zalinsky was meant to be on his bilateral schedul ...

President Donald Trump holds a press conference at the NATO summit in The Hague. The alliance just reached a deal to increase defense spending to 5% of GDP and leaders renewed their commitment to mutual defense in an historic move that comes at the time of an increasingly belligerent Russia. ...

President Donald Trump delivers remarks at NATO summit on Wednesday. NATO will show on Wednesday whether it can unite on a defense spending hike. Allies have been wrangling over a joint statement that will be released at the end of the summit on. The coalition’s members have been pressured to commit to spending 5% of GDP on defense. Some have pushed back. Trump doubled down on the success of Washington’s strikes on Iran, dubbing an American intelligence assessment of the offensives as “inconclusive.” The in ...

We're with them all the way. If you take a look at the numbers, we're with them. And they're very big things to announce.And I don't know if you've taken the vote or you're going to take the vote, but I've been asking them to go up to 5% for a number of years and they're going up to 5%. That's a big from 2%. And a lot of people didn't even pay the 2%.So I think it's going to be very big news that it is going to become very strong with us. And I appreciate doing it. Perhaps you want to jump.Yeah, absolutely. ...

US President Donald Trump expressed support for NATO, praising its moves to bolster defense spending. Trump and NATO Secretary General Mark Rutte were speaking to reporters in The Hague. -------- More on Bloomberg Television and Markets Like this video? Subscribe and turn on notifications so you don't miss any videos from Bloomberg Markets & Finance: https://tinyurl.com/ysu5b8a9 Visit http://www.bloomberg.com for business news & analysis, up-to-the-minute market data, features, profiles and more. Connect wi ...

Defense Spending & NATO - NATO aims to reach 5% defense spending target, requiring difficult decisions from member states [5] - The challenge lies in justifying defense spending during peacetime [5] - NATO Secretary General is working to keep European countries united on defense spending [6] - Discussions include opening financial possibilities for member states to spend more and promoting joint procurement [7] - The 2% of GDP spending pledge by 2024 was not met by all countries [9] - The summit's primary goal is to secure agreement on moving to 5% of defense spending [10] - Article 5 of NATO is clear: an attack on one is an attack on all [13] Geopolitical Issues & Ukraine - Every new war diverts attention from ongoing conflicts, such as the one in Ukraine [17] - The EU has supported Ukraine's military with €24 billion in 2024, exceeding last year's support [18] - The EU is pursuing an 18th package of sanctions against Russia [18] - Discussions are planned regarding the use of Russian frozen assets to aid Ukraine [19][20] International Relations & Trade - The EU is working towards a trade deal with the United States by July 9th [20] - Canada's potential relationship with the EU is being considered, despite geographical challenges [21][22]

Spain’s Economy Minister Carlos Cuerpo discusses the country's defense spending plans as NATO leaders meet in The Hague for a summit expected to endorse the new investment targets. He tells Bloomberg Television that Spain has estimated what it needs to spend and that this amounts to 2.1% of output and that it will remain a "responsible NATO ally." He also comments on the decision by the Spanish government regarding BBVA's bid for Banco Sabadell. 00:00 - Spanish Economy Minister on NATO spending, 2.1% of GDP ...

Where do NATO's members stand. Get us up to speed on where different members of NATO stand on that defense spending and that target of 5%. Yeah.Tom It's worth just sort of noting this moment where we got to have 5%. You know, this is something that Donald Trump had sort of floated in his election campaign, his re-election campaign talking about NATO at 5%. This was basically, I wouldn't say quite laughed at, but completely rejected as a concept, totally unrealistic and basically something that the Nato and ...