US producer prices rise 2.6% annually with slight 0.1% monthly increase in May
US producer prices rose 2.6% annually in May, matching market expectations, with a modest 0.1% increase from April, the US Bureau of Labor Statistics reported.
U.S. Secretary of State Marco Rubio announced that all NATO member states are expected to agree on a long-term goal of spending 5% of their GDP on defense by the time of the 2025 NATO Summit in June.
U.S. Secretary of State Marco Rubio stated that all NATO members are on track to agree to a defense spending goal of 5% of GDP over the next decade, aligning with U.S. expectations ahead of the NATO Summit scheduled for June 24-25, 2025, in the Netherlands.
Speaking on Fox News' "Hannity," Rubio highlighted growing momentum among alliance members toward increased military investment. “I can tell you that we are headed for a summit in six weeks, in which virtually every member of NATO will be at or above 2%, but more importantly, many of them will be over 4%, and all will have agreed on the goal of reaching 5% over the next decade,” he said.
The statement marks a significant shift from the past, particularly during President Donald Trump's first term (2017–2021), when he criticized NATO allies for underinvesting in collective defense and cut U.S. funding to the alliance.
Germany, long criticized for falling short of NATO’s 2% target, announced in January that it had met the benchmark for 2024. This week, German Foreign Minister Johann Wadephul confirmed Berlin’s support for increasing defense spending to 5% of GDP, echoing Trump's recent demands for greater burden-sharing.
The push for higher military expenditures comes amid heightened global security concerns and efforts to strengthen NATO's deterrence capabilities. If confirmed, the 5% target would mark the most ambitious collective defense spending commitment in the alliance's history.
Start your day informed with AnewZ Morning Brief: here are the top news stories for June 8th, covering the latest developments you need to know.
Presidential candidate Miguel Uribe Turbay is in critical condition after being shot three times — including twice in the head — during a campaign event in Bogotá.
A 30-year-old woman was shot by police in Munich on Saturday evening after stabbing two people at Theresienwiese, a central park best known for hosting Oktoberfest.
Kazakhstan and the UK are strengthening defense ties with a new Military Cooperation Plan, focusing on peacekeeping and military education.
Mexican President Claudia Sheinbaum has condemned U.S. immigration raids and National Guard deployment in Los Angeles, calling for reforms instead of enforcement.
Mexican President Claudia Sheinbaum has openly expressed her opposition to labeling migrant workers as criminals during a high-level meeting with U.S. Deputy Secretary of State Christopher Landau.
Tensions between the U.S., Israel, and Iran are nearing a critical point as President Trump warns that an Israeli strike on Iran "could very well happen," while still expressing hopes for a peaceful resolution over Tehran’s nuclear ambitions.
Türkiye and Azerbaijan are deepening defense ties with two major joint military drills in Nakhchivan this June, aiming to strengthen strategic cooperation and regional readiness.
European foreign ministers agreed to increase pressure on Russia by imposing new sanctions targeting its energy and banking sectors amid ongoing conflict with Ukraine.
As G7 leaders prepare to meet, most member states are ready to cut the Russian oil price cap to $45 even without U.S. backing.
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