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Europeans Will Spend Over $300 Billion by 2020 on Defense

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Since taking office, US President Donald Trump has pressed the Europeans about spending on defense, some of whom have not spent the 2.0% promised for the NATO Alliance. However, spending is now increasing and could test the $300 billion mark by 2020 according to a piece on CNBC attributed to David Reid (Janes IHS Markit). Note that at a NATO Summit in 2017, President Trump pointed out that the US allocated more cash to defense than all the NATO members combined.

This current rise in spending, according to the piece mentioned, will top over 300 billion pounds (Sterling) by 2021, a massive increase in spending compared to 2010 which was about 250 billion pounds. Also, it is important to note that Germany has increased spending by 11% over the year period to 2019. As a group, the UK, France, Germany and Italy, the western European group increased spending by around 4 percent. However, according to Jane`s the recent sluggish economy in the UK could mean a slowdown in sending on military goods,

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