The European Union has launched a new initiative aimed at increasing defense spending and boosting local arms production in response to concerns about the US’s decreasing support for NATO and its traditional allies. The “European Defense Readiness 2030” plan calls for an increase of $872 billion in defense budgets, with the creation of a pool of money to boost European arms production.
Ottawa is also deep into talks about joining this initiative, following concerns raised by US President Donald Trump’s imposing tariffs and remarks on Canada’s potential status as the 51st state. The EU wants to reduce its reliance on US-made arms and strengthen its own military capabilities.
The plan aims to simplify regulations and streamline industrial programs, with a focus on creating an integrated defense system. However, the move has raised concerns about the reliability of the US as a partner, particularly following reports that US arms makers could “throw a kill switch” on exported weapons, rendering them inoperable.
Canada is also reviewing its planned acquisition of 88 F-35s due to changes in the geopolitical landscape and a need for more domestic defense production. If Canada joins the EU initiative, it would be able to market its industrial facilities to build European systems like the Saab Gripen jet.
The plan has sparked a surge in stocks for European defense manufacturers, with growing competition from South Korea and Turkey as well. The EU’s move is part of a broader effort to re-arm and develop necessary capabilities to deter armed aggression and secure its future.
Source: https://www.twz.com/news-features/new-eu-plan-to-boost-local-arms-production-would-freeze-u-s-out-of-hundreds-of-billions