Official NATO announcements and press releases

NATO Eyes 3% GDP Defense Spending Target by 2030 Amid Trump's Return

Dec 12, 2024, 11:00 AM

European NATO members are discussing a proposal to raise the alliance's defense spending target from the current 2% of GDP to 3% by 2030, driven partly by the anticipated return of Donald Trump as US president. This initiative aims to address the growing security threats, particularly in light of Russia's actions in Ukraine. The discussions, which began during a recent meeting of alliance foreign ministers, include a short-term pledge to increase spending to 2.5% of GDP before reaching the 3% target. The proposal has sparked concerns about the strain on national budgets, especially for countries like Italy, which is already under the European Union's Excessive Deficit Procedure. NATO Secretary-General Mark Rutte has expressed support for significantly higher defense spending, emphasizing the need for a stronger deterrent against potential threats. EU Commission President Ursula von der Leyen has also advocated for increased defense spending. If agreed upon, the new target would be formally adopted at the next NATO summit in The Hague, according to the Financial Times.