This will allow us to build the ‘Dream Military’ that we have long been entitled to and, more importantly, that will keep us SAFE and SECURE, regardless of foe,” the US president said.
Trump said the increase is possible due to revenue from the sweeping tariffs he has imposed on friend and foe alike.
The United States is already by far the world’s biggest military spender, and a hike to $1.5 trillion would push Washington’s financial outlay on its armed forces even farther ahead of its rivals China and Russia, though it could also spark an arms race with such countries.
Trump slams defence companies
Trump’s announcement on boosting the US military budget comes after Nato allies committed last year to increase their defence spending to five per cent of GDP by 2035 in response to pressure from the US president.
Even as he announced a budget goal that would be a major boon to defence contractors, Trump took aim at them in posts on Truth Social.
Defence contractors are “issuing massive Dividends to their Shareholders and massive Stock Buybacks, at the expense and detriment of investing in Plants and Equipment,” while pay packages for defence executives are “exorbitant and unjustifiable,” Trump said.
