Trump says that allies have commited to raise defense spending beyond 2%

Author: Justin Low | Category: News

Looks like he got his wish

  • Other countries have agreed to increase their defense spending
  • US commitment to NATO remains very strong
  • NATO members have "really stepped up" defense spending
  • Says that he told allies he would be very unhappy if they didn't do so
  • Says that he let allies know that he was extremely unhappy
  • NATO is better off today than it was two days ago
  • Says that US is in talks with the EU and will meet next week on trade
  • Says that he thinks he can pull out of NATO without Congressional approval
  • But says that it is not necessary
  • Says that trade talks with EU will begin on 25 July
  • "If they don't negotiate in good faith, action will be taken on cars"
And they lived happily ever after? Hmm. The comment on trade is also relevant, and that should at least continue to give risk assets some reprieve as there is further dialogue between the US and EU - rather than the no dialogue seen with China apparently.

That last line on needing Congress approval I think gave away the fact that he probably did use the withdrawal card at some point in negotiations I feel. But not that it matters all too much now.

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