President Donald Trump criticized Spain for not agreeing to new defense spending targets adopted by NATO and suggested the country could face tariffs twice as high from the US.
Trump stated that the US is negotiating a trade deal with Spain and threatened to make them pay twice as much, which caused Spain's benchmark stock index to extend its losses.
Spanish officials dismissed Trump's tariff threat, emphasizing that the European Commission handles trade matters for the EU and that individual member states don't negotiate trade deals on their own.
I can see a 5% spending spree being needed right now to quickly get us up and running to counter the threat Russia poses, but as little as possible should be spent on US equipment.
5% of the fedaral budget or 5% of the BIP?
That’s a huge difference. It often gets conflated in the discussion.
GDP