BETA Technologies launches IPO of 25 million shares priced $27-$33
Investing.com -- President Trump has threatened to impose tariffs on Spain as punishment for not increasing its NATO defense spending to 5%.
During a recent exchange with reporters, Trump expressed his displeasure with Spain, calling their actions "very disrespectful to NATO" and "unbelievably disrespectful."
"I’m very unhappy with Spain. They’re the only country that didn’t raise up their number to 5%. Every other country in NATO raised up to 5%," Trump stated.
The president suggested that Spain is taking advantage of its geographic position within Europe, which provides it with inherent protection regardless of its financial contribution to the alliance.
"Spain gets protection and they know, you know, look, they’re sort of in the semi middle of it. So they’re going to get protected automatically," Trump said.
When asked about potentially expelling Spain from NATO, Trump did not directly endorse that action but instead focused on possible economic consequences.
"I was thinking about giving them trade punishment through tariffs because of what they did. And I may do that," Trump said, adding that he believes Spain "should be punished" for not meeting the spending target that other NATO members have reportedly achieved.
Trump characterized Spain’s decision as "a very bad thing for NATO" and "very unfair to NATO," suggesting the country is "doing very well off our backs."