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The Latest Breaking News from Defense Spending

China Increases Military Spending in Face of Threats

China said Sunday its military spending would rise at the fastest pace in four years, warning of "escalating" threats from abroad. The country's planned budgets for the year put defense spending at 1.55 trillion yuan ($225 billion), a 7.2 percent rise and the quickest rate of increase since 2019.

Asharq Al-Awsat

Commentary: Is more military spending really necessary?

This spring, President Joe Biden is poised to ask Congress for the largest defense budget in history. These budget increases would be on top of an already historically high defense budget.

Tribune News Service

Texas defense hawks urge Congress away from military funding cuts to raise the debt ceiling

Texas Republicans in the U.S. House are working with their divided party to eke out a path forward on raising the debt limit.

The Texas Tribune

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Lawmakers to Pentagon: Curtail defense spending ‘wish lists’

WASHINGTON — Influential lawmakers from both parties urged the Defense secretary in a letter Tuesday to curtail the department’s submission to Congress of “unfunded priorities lists” — annual requests for billions of dollars in military spending above White House budget proposals.

Tribune News Service

Lawmakers to Pentagon: Curtail defense spending 'wish lists' - Roll Call

Influential lawmakers from both parties urged the Pentagon to curtail its requests for billions of dollars above White House budget proposals.

Roll Call

How the US far right and progressives ended up agreeing on military spending cuts

Progressives and ‘America first’ Republicans in Congress both want to re-examine US military budget – but for vastly different reasons

The Guardian - US

Macron Boosts French Military Spending by over a Third to ‘Transform’ Army

France will boost military spending by more than a third in coming years, President Emmanuel Macron said on Friday, as he unveiled ambitions to transform the French army to deal with the great "perils" of this century. Acknowledging the end of the "peace dividend" of the post-Cold War era, Macron…

Asharq Al-Awsat

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North Korea sustains high defense spending with new budget

North Korea’s rubber-stamp parliament has passed a budget that sustains a high level of defense spending despite the country’s economic troubles

The Independent UK

Commentary: The US can afford a defense spending cut

House Speaker Kevin McCarthy had to beg, plead and deal to get his current job. One of the agreements struck on the House floor with the most conservative faction of the Republican caucus was a promise to keep the next spending bill at levels that were agreed to in fiscal…

Chicago Tribune

Biden and Kishida Discuss Japan ‘Stepping up’ Security

President Joe Biden and Japanese Prime Minister Fumio Kishida were holding wide-ranging talks at the White House on Friday as Japan looks to build security cooperation with allies in a time of provocative Chinese and North Korean military action. The two administrations were also ready to seal an agreement to…

Asharq Al-Awsat

Japan doubles down on defense and U.S. alliance with an eye on China

Japan plans to double defense spending and deepen cooperation with the U.S.

Axios

Biden, Kishida to discuss Japan 'stepping up' security

The U.S. and Japan are ready to seal an agreement to bolster U.S.-Japanese cooperation on space

The Independent UK

Congress trims funding for Pentagon ‘chem-bio’ programs

WASHINGTON — The latest defense spending law would subtract about 7% from the president’s request for numerous Pentagon chemical and biological defense programs on the grounds that they need to be more effectively executed.

Tribune News Service

Blinken says U.S. applauds Japan's decision to double defense spending

The United States applauded Japan's decision to double defense spending by 2027, U.S. Secretary of State Antony Blinken said on Wednesday, ahead of planned talks later this week between President Joe Biden and Japanese Prime Minister Fumio Kishida.

Reuters

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The Guardian - US

Washington is shrieking at the prospect of a defense budget cut. But would it really be so bad?

Instead of seeing this as an opportunity to course-correct the copious funding allocated to the Pentagon, the White House came out swinging

The Independent UK

Czech government OKs bill for 2% GDP spending on military

The Czech government has approved a bill aimed at bringing defense spending at the required NATO goal of 2% of gross domestic product as Russia's war in Ukraine continues

The Independent UK

Ukraine's debts: US aims to get IMF to reexamine loan fees

A provision in the recently signed defense spending bill mandates that the United States work to ease Ukraine’s debt burden at the International Monetary Fund

Axios

Chinese military sends 71 planes near to Taiwan and blames U.S. for "provocation"

Beijing slammed the U.S. for passing a defense spending bill that included provisions for Taiwan.

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Asharq Al-Awsat

China Blasts US Defense Bill While Taiwan Welcomes It

China blasted an annual US defense spending bill for hyping up the “China threat" while Taiwan welcomed the legislation, saying it demonstrated US support for the self-governing island that China says must come under its rule. “China deplores and firmly opposes this US move,” the Foreign Ministry said in a…

The Independent UK

China blasts US defense bill while Taiwan welcomes it

China has blasted an annual U.S. defense spending bill for hyping up the “China threat” while Taiwan welcomed the legislation, saying it shows U.S. support for the self-governing island that China says must come under its rule

The Independent UK

Biden signs defense bill that repeals troop vaccine mandate

President Joe Biden has signed a nearly $858 billion defense spending bill into law despite his opposition to a Republican-backed provision in the legislation that repeals the COVID-19 vaccination requirement for U.S. troops

The Independent UK

Tomahawks part of Japan's record defense spending next year

Japan’s Cabinet has approved record defense spending next year in preparation for the country deploying U.S.-made Tomahawks and other long-range cruise missiles as part of a more offensive security strategy

StockNews.com

The 3 Hottest Defense Stocks to Buy for 2023

Heightened geopolitical tensions have led to an increase in defense spending. The U.S. defense sector has seen a surge in demand thanks to the rising defense budgets of several countries. Therefore, investors could take advantage of the industry tailwinds by investing in fundamentally strong defense stocks Lockheed Martin (LMT), General…

The Independent UK

Lawmakers unveil bill to avoid gov't shutdown, boost Ukraine

Congressional leaders have unveiled a $1.7 trillion spending package early Tuesday that includes another large round of aid to Ukraine, a nearly 10% boost in defense spending and roughly $40 billon to assist communities across the country recovering from drought, hurricanes and other natural disasters

The Japan News/Yomiuri

Japan set to rise in defense spending ranking

The defense buildup approved by the government on Friday could see Japan's ranking in terms of defense expenditures rise to third in the world based on planned spending of about 11 trillion yen in fiscal 2027.

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