Canada to hit defence Nato spending target

TORONTO: Canada will hit Nato defence spending threshold of two per cent this year, Prime Minister Mark Carney said on Monday, warning that in a 'darker' world, Canada must reduce its security dependence on the United States. 'I am announcing today that Canada will achieve Nato's 2 per cent target this year — half a decade ahead of schedule,' Carney said during a speech at the University of Toronto. 'The threats that Canada faces are multiplying,' he added.

Carney's pledge followed similar announcements by members of the alliance and comes after consistent pressure by US President Donald Trump for Nato members to spend more on defence. 'In a darker, more competitive world, Canadian leadership will be defined not just by the strength of our values, but also by the value of our strength,' Carney said.

'The United States is beginning to monetise its hegemony: charging for access to its markets and reducing its (relative) contributions to our collective security,' Carney said, condemning Trump's trade war. 'We should no longer send three quarters of our defence capital spending to America,' the prime minister said. — AFP