In brief
Amid ongoing global tensions, President Donald Trump has proposed a significant increase in US defense spending to $1.5 trillion by 2027, which is over 50% higher than the current budget. He argues this increase is essential for the establishment of a robust 'Dream Military.' Trump highlighted the need for defense contractors to enhance production rates and warned against excessive executive payouts if companies do not comply with demands for increased output.
President Donald Trump has called for US defence spending to be increased to $1.5tn (£1.1tn) in 2027 for what he called these very troubled and dangerous times.
That would be more than 50% higher than this year's $901bn budget, which was approved by Congress in December.
This will allow us to build the 'Dream Military' that we have long been entitled to and, more importantly, that will keep us SAFE and SECURE, regardless of foe, Trump said on social media on Wednesday.
In separate posts, the president said he would crack down on payouts to bosses and shareholders of major US defence contractors unless the firms speed up deliveries of armaments and build new manufacturing plants.
Economists have previously warned that the gap between US spending and its income has reached unsustainable levels.
But Trump said Washington can easily hit his proposed $1.5tn defence budget thanks to money being brought in by tariffs.
Trump has been pushing for higher defence spending by the US and its allies since his first term in the White House.
On Wednesday, he said US defence giant Raytheon was the 'least responsive' to America's defence needs and the slowest to increase production.
Either Raytheon steps up and starts investing in more upfront investment like plants and equipment, or they will no longer be doing business with the Department of War, Trump wrote in a separate post.
The BBC contacted Raytheon for comment.
