- Defense stocks are in focus as President Trump travels to Brussels for a NATO summit that has military spending and burden-sharing high on the agenda.
- In 2014, NATO allies agreed to increase and move towards spending 2% of GDP on defense within a decade, but only six member countries have so far met that goal: the U.S., the U.K, Greece, Estonia, Poland and Romania.
- The U.S., which spent $685.9B on defense in 2017, currently makes up 51.1% of NATO's combined GDP.
- "The U.S. is spending many times more than any other country in order to protect them [Europe]. Not fair to the U.S. taxpayer. On top of that we lose $151B on Trade with the European Union. Charge us big Tariffs (& Barriers)!" President Trump tweeted before the trip.
- Related tickers: (BA +1%), (LMT +0.8%), (HII +0.5%), (GD +0.4%), (HON +0.1%), (NOC -0.1%), (ITT +1%), (UTX +0.1%), (TXT +0.3%), (UTX +0.1%), (LLL -0.2%), (RTN -0.9%), (COL +0.2%), (AVAV +0.6%), (KTOS +0.9%), (ITA +0.2%), (PPA +0.6%), (XAR +0.5%)
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Original article