1342 GMT - Europe will do everything it can to maintain a good defense cooperation with its transatlantic partners within the NATO alliance, German Chancellor Olaf Scholz tells the World Economic Forum in Davos, Switzerland, in a message targeted at the U.S. in particular. The new U.S. President Donald Trump has said he wants all NATO countries to increase their defense spending to 5% of their gross domestic product. Scholz notes that "nearly every European country" is spending more than 2% of its GDP on defense. "My view is that we should keep this and that those who have not reach the goal should do it very fast," he says. According to NATO data, 23 out of NATO's 32 member states spent above the 2% minimum threshold on defense last year. Spending by Italy, Belgium, Croatia, Luxembourg, Portugal, Slovenia, and Spain remains below the 2% target. (cristina.gallardo@wsj.com)
(END) Dow Jones Newswires
January 21, 2025 08:43 ET (13:43 GMT)
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