Trump Calls for Increased NATO Defense Spending and Criticizes EU Treaties

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In a speech delivered via videoconference at the Davos Forum in Switzerland, U.S. President Donald Trump expressed his discontent with the European Union's economic treatment of the United States, describing it as "very unfair." He highlighted the imbalance in trade relations and criticized fines imposed on U.S. companies as a hidden tax.

Trump announced plans to urge NATO allies to raise their defense spending target from 2% to 5% of GDP. He stated that the current contributions from NATO partners are insufficient and called for significant increases. "I’m also going to ask all NATO nations to increase defense spending to 5% of GDP," he said.

The president also conveyed his desire to meet with Russian President Vladimir Putin to discuss an end to the conflict in Ukraine. He mentioned that he had discussed the situation with Chinese President Xi Jinping, seeking China's assistance to help resolve the war.

On the domestic front, Trump asserted that he is leading a "revolution of common sense," promising to execute the largest deregulation campaign and tax cut in U.S. history. He also pledged to eliminate policies promoting diversity and inclusion, labeling them as discriminatory.

Trump's transactional approach was evident as he referenced a potential $600 billion investment project from Saudi Arabia, asking Crown Prince Mohammed bin Salman to increase it to $1 trillion. He further called on OPEC nations to lower oil prices to reduce Russia's revenues.

Following his speech, Trump participated in a Q&A session with prominent business leaders, including Ana Botín of Banco Santander and Stephen Schwarzman of Blackstone, engaging on topics related to deregulation and the financial services sector.

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