Trump pushes $1.5tn defence spend

In a bold, if not surprising, move, former US president Donald Trump has urged Congress to lift the nation’s defence budget by more than half - up to $1.5 trillion. He warned that if defence contractors don’t crank up production, they’ll face a crackdown on their payouts. Trump’s call comes as the Pentagon wrestles with ageing equipment and rising global tensions, and it’s sure to spark heated debate on the Senate floor. The proposal would dwarf the current budget, reshaping the US military’s spending landscape.

With the US accounting for roughly 40% of global military spend, a 50% boost could ripple through defence markets, affect jobs, and shift the balance of power, making it a hot topic for investors and policymakers alike.

Think of it as the US buying a whole new fleet of tanks, jets and cyber tools - and the price tag could affect everything from your pension fund’s exposure to defence stocks to the cost of security abroad. In short, it could touch your wallet and the world you live in.