Whale Large Capital
  • Politics
  • World News
  • Business
  • Investing
  • Politics
  • World News
  • Business
  • Investing

Whale Large Capital

World News

Canada plans to hit NATO spending target early and reduce reliance on US defense, Carney says

by June 10, 2025
June 10, 2025
Canada plans to hit NATO spending target early and reduce reliance on US defense, Carney says

Canada will meet NATO’s military spending guideline by early next year and diversify defense spending away from the United States, Prime Minister Mark Carney said Monday, asserting that Washington no longer plays a predominant role on the world stage.

The announcement means Canada will achieve NATO’s spending target of 2% of gross domestic product five years earlier than previously planned.

“Our military infrastructure and equipment have aged, hindering our military preparedness,” Carney said. “Only one of our four submarines is seaworthy. Less than half of our maritime fleet and land vehicles are operational. More broadly, we are too reliant on the United States.”

According to NATO figures, Canada was estimated to be spending 1.45% of GDP on its military budget, below the 2% target that NATO countries have set for themselves. Canada previously said it was on track to meet NATO’s target by the end of the decade.

“Our goal is to protect Canadians, not to satisfy NATO accountants,” Carney said in a speech at the University of Toronto.

Canada is about to host US President Donald Trump and other leaders at a summit of the Group of Seven leading industrialized nations in Alberta on June 15-17, and before the NATO summit in Europe. NATO allies are poised to increase the commitment well beyond the 2% target.

NATO Secretary-General Mark Rutte said last week that most US allies at NATO endorse Trump’s demand that they invest 5% of gross domestic product on their defense needs and are ready to ramp up security spending even more.

“We are meeting 2%. And that is the NATO target as it is today,” Carney said at a later news conference. “We will need to spend more.” He said there will be discussions on the increased spending amount and its timeline at the NATO summit.

Carney has said he intends to diversify Canada’s procurement and enhance the country’s relationship with the EU.

“We should no longer send three-quarters of our defense capital spending to America,” Carney said in a speech at the University of Toronto. “We will invest in new submarines, aircraft, ships, armed vehicles and artillery, as well as new radar, drones and sensors to monitor the seafloor and the Arctic.”

Canada has been in discussions with the European Union to join an EU drive to break its security dependency on the United States, with a focus on buying more defense equipment, including fighter jets, in Europe. Carney’s government is reviewing the purchase of U.S. F-35 fighter jets to see if there are other options.

“We stood shoulder to shoulder with the Americans throughout the Cold War and in the decades that followed, as the United States played a predominant role on the world stage. Today, that predominance is a thing of the past,” Carney said in French, one of Canada’s official languages.

He added that with the fall of the Berlin Wall in 1989, the United States became the global hegemon, noting that its strong gravitational pull became virtually irresistible and made the US “our closest ally and dominant trading partner.”

“Now the United States is beginning to monetize its hegemony: charging for access to its markets and reducing its relative contributions to our collective security,” Carney said.

Trump’s calls to make Canada the 51st US state have infuriated Canadians, and Carney won the job of prime minister after promising to confront the increased aggression shown by Trump.

The prime minister said “a new imperialism threatens.”

Carney said the long-held view that Canada’s geographic location will protect Canadians is increasingly archaic. The government is adding $9 billion Canadian (US$6.6 billion) in spending this year and Carney said the Canadian Coast Guard will be now be a part of the military.

European allies and Canada have already been investing heavily in their armed forces, as well as on weapons and ammunition, since Russia launched a full-scale invasion of Ukraine on Feb. 24, 2022.

This post appeared first on cnn.com
0
FacebookTwitterGoogle +Pinterest
previous post
Russia strikes Kyiv and Odesa with aerial attacks, at least two people wounded, officials say
next post
World’s tallest monk? Victor Wembanyama spotted at China’s Shaolin Temple with shaved head

You may also like

Zelensky confirms Ukrainian troops are fighting inside Russian...

August 11, 2024

Australian transgender woman wins landmark case against female-only...

August 23, 2024

Sweden just experienced the worst mass shooting in...

February 5, 2025

Russia expels two British diplomats over alleged spying,...

March 10, 2025

Father and stepmother sentenced to life in prison...

December 17, 2024

What did King Charles say in his letter...

February 28, 2025

As Trump offers new nuclear talks, Iran weighs...

March 26, 2025

El Salvador offers to house violent US criminals...

February 4, 2025

Israel has signaled readiness for war with Hezbollah...

September 19, 2024

More than 40,000 Palestinians have been killed in 10 months of...

August 15, 2024

    Subscribe today to receive exclusive access to all our retirement secrets and income strategies, including special financial news and updates from our experts. From time to time, our newsletters feature valuable insights and analysis on the latest financial trends. Don't miss out on these exclusive updates – join our subscription to stay informed!


    By opting in you agree to receive emails from us. Your information is secure and your privacy is protected.



    Latest

    • Dems join clergy to pray for ‘moral reckoning’ to fix Big, Beautiful Bill: ‘I still know how to agitate’

      June 10, 2025
    • Reporter’s Notebook: How the House is technically done with the ‘big, beautiful bill’

      June 10, 2025
    • Friedrich Merz Fast Facts

      June 10, 2025
    • Syria orders women to cover up on beaches with conservative new dress code

      June 10, 2025
    • Iran becoming ‘much more aggressive’ in nuclear talks, Trump tells Fox News

      June 10, 2025
    • State Department reveals plan to deliver ‘life-saving’ meals to 1.4M starving children

      June 10, 2025

    Categories

    • Business (668)
    • Investing (661)
    • Politics (4,433)
    • World News (2,989)
    • Terms & Conditions
    • Privacy Policy
    • Contact us
    • About us

    Disclaimer: WhaleLargeCapital.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 WhaleLargeCapital.com | All Rights Reserved