EconomyLens.com
No Result
View All Result
Wednesday, November 19, 2025
  • Home
  • Economy
  • Business
  • Markets
  • Tech
  • Editorials
EconomyLens.com
  • Home
  • Economy
  • Business
  • Markets
  • Tech
  • Editorials
No Result
View All Result
EconomyLens.com
No Result
View All Result
Home Economy

Trump administration tells Pentagon to slash budget

Thomas Barnes by Thomas Barnes
February 19, 2025
in Economy
Reading Time: 6 mins read
A A
2
27
SHARES
336
VIEWS
Share on FacebookShare on Twitter

US Defence Secretary Pete Hegseth, who reportedly wrote a memo ordering the US military to prepare for sweeping budget cuts. ©AFP

Washington (AFP) – The Trump administration has ordered senior US military leaders to plan for expansive cuts that could slash the defense budget by eight percent annually, or some $290 billion within the next five years, US media reported Wednesday. Defense Secretary Pete Hegseth told the Pentagon to develop the deep reductions, The Washington Post reported, citing a memo. The Pentagon’s budget for 2025 is some $850 billion.

Related

Swiss queasy over chlorinated chicken fears in US tariff deal

Netherlands halts Nexperia takeover in gesture to China: minister

South Africa to host G20 summit boycotted by US

Lula to return to COP30 as nations under pressure to land deal

IMF gold sales among measures to tackle debt, says report for G20

Lawmakers across the political spectrum agree that the massive spending is needed to deter threats, especially from China and Russia. The cuts, if implemented in full, would reduce that figure by tens of billions each year to some $560 billion by the end of the five years. The report did not give details of where the cuts would be made in the world’s biggest military, but an earlier Post report said that junior civilian workers, not uniformed personnel, were being targeted.

The news — which comes after Elon Musk’s Department of Government Efficiency reportedly visited the Pentagon last week — was likely to be met with stiff resistance from both the military and Congress. Trump on Wednesday signaled support for a House of Representatives bill that would increase the defense budget by $100 billion — a move at odds with the Hegseth-directed cuts. The planned reductions also run counter to calls by Trump and Hegseth for NATO members to increase their military spending to five percent of GDP a year.

The United States currently spends around 3.4 percent of its GDP on defense, and the five percent threshold would be even farther out of reach if the Pentagon’s budget is reduced. The stock prices of major US defense contractors were hit by the news, with Lockheed Martin dropping briefly before recovering, Northrop Grumman falling nearly two percent and Palantir closing down more than 10 percent.

Hegseth’s memo said the proposed cuts must be drawn up by February 24, and include 17 categories that Trump wants exempted, including operations at the US border with Mexico and modernization of nuclear weapons and missile defense. It also calls for funding for regional headquarters such as Indo-Pacific Command and Space Command. But other major centers such as European Command, which has led the way on US strategy throughout the war in Ukraine, and also Africa Command and Central Command — which oversees operations in the Middle East — were absent from the list, the Post reported.

The Defense Department “must act urgently to revive the warrior ethos, rebuild our military, and reestablish deterrence,” Hegseth wrote in the memo, dated Tuesday, according to the Post. “Our budget will resource the fighting force we need, cease unnecessary defense spending, reject excessive bureaucracy, and drive actionable reform including progress on the audit,” he reportedly continued.

US President Donald Trump has vowed to slash government spending and end US support for Ukraine in its war against Russian invasion.

© 2024 AFP

Tags: defenseDonald Trumpmilitary
Share11Tweet7Share2Pin2Send
Previous Post

EU trade chief says bloc will respond swiftly to US tariffs

Next Post

Canada announces first high-speed rail: Toronto to Quebec City

Thomas Barnes

Thomas Barnes

Related Posts

Economy

Trade tensions force EU to cut 2026 eurozone growth forecast

November 18, 2025
Economy

EU predicts less eurozone 2026 growth due to trade tensions

November 17, 2025
Economy

Swiss growth suffered from US tariffs in Q3: data

November 17, 2025
Economy

Swiss growth suffered from US tariffs in Q3: data

November 17, 2025
Economy

Greenpeace says French uranium being sent to Russia

November 16, 2025
Economy

Serbia avoiding ‘confiscation’ of Russian shares in oil firm NIS

November 16, 2025
Next Post

Canada announces first high-speed rail: Toronto to Quebec City

Trump administration takes aim at Pentagon spending

Trump's labor nominee walks back pro-union stances

Trump's labor nominee walks back pro-union stances

0 0 votes
Article Rating
Subscribe
Notify of
guest
guest
2 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
  • Trending
  • Comments
  • Latest

New York ruling deals Trump business a major blow

September 30, 2024

Elon Musk’s X fights Australian watchdog over church stabbing posts

April 21, 2024

Women journalists bear the brunt of cyberbullying

April 22, 2024

France probes TotalEnergies over 2021 Mozambique attack

May 6, 2024

New York ruling deals Trump business a major blow

79

Ghanaian finance ministry warns against fallout from anti-LGBTQ law

74

Shady bleaching jabs fuel health fears, scams in W. Africa

71

Stock markets waver, oil prices edge up

65

Many US Fed members inclined against December cut: minutes

November 19, 2025

Swiss queasy over chlorinated chicken fears in US tariff deal

November 19, 2025

China, Netherlands move to resolve Nexperia chip row

November 19, 2025

Stocks steadier before key Nvidia results as oil slides

November 19, 2025
EconomyLens Logo

We bring the world economy to you. Get the latest news and insights on the global economy, from trade and finance to technology and innovation.

Pages

  • Home
  • About Us
  • Privacy Policy
  • Contact Us

Categories

  • Business
  • Economy
  • Markets
  • Tech
  • Editorials

Network

  • Coolinarco.com
  • CasualSelf.com
  • Fit.CasualSelf.com
  • Sport.CasualSelf.com
  • SportBeep.com
  • MachinaSphere.com
  • MagnifyPost.com
  • TodayAiNews.com
  • VideosArena.com
© 2025 EconomyLens.com - Top economic news from around the world.
No Result
View All Result
  • Home
  • Economy
  • Business
  • Markets
  • Tech
  • Editorials

© 2024 EconomyLens.com - Top economic news from around the world.